Business News Roundup From March 11-March 17, 2023

Welcome to the AllNews roundup of the 5 Latest Business News that made the round last week.

Naira Scarcity: CBN Stops Cash Swap Programme

CBN Headquarters

The Central Bank of Nigeria (CBN) had said that residents of rural and unbanked areas can no longer swap old notes for new ones through its cash swap programme.

Isa Abdulmumin, the CBN Acting Spokesperson said this in a telephone chat with Punch, noting that the programme had fulfilled its mandate. Read more here

Ogun Governor To Sanction Anyone Rejecting Old Naira Notes

Governor Dapo Abiodun of Ogun State has threatened to lock up banks, stores or supermarkets that refuse to accept the old N500 and N1000 notes.

This is according to a report from Daily Post. Read more here

Release More Naira Notes To Ease Hardship — Nigerians To CBN

Some residents of the Federal Capital Territory (FCT) have urged the Central Bank of Nigeria (CBN) to release more banknotes to money deposit banks to ease hardship.

The residents said this on Thursday while speaking with the News Agency of Nigeria (NAN) in Abuja, noting that improvement has not been seen in terms of the availability of old N500 and N1,000 notes. Read more here.

Naira Scarcity: Nigerians React To CBN's New Directive

The Central Bank of Nigeria (CBN) has finally complied with the Supreme Court ruling that the old naira notes should co-exist with new ones till the end of the year.

Though the Supreme Court ruled on March 3, 2023, neither President Muhammadu Buhari nor the CBN Governor Godwin Emefiele reacted to the ruling until the CBN, in a statement on Monday, ordered that Deposit Money Banks operating in Nigeria should comply with the Supreme Court ruling. Read more here

NEM Insurance Harps On Gender Equity

Nem Insurance Plc has said it is embracing gender equality.

It said this in a statement to celebrate the 2023 International Women’s Day with the theme, ‘Embrace Equity’.Read more here.

These are the latest Business news that made trends during the week. Visit our website https://allnews.ng for more Business news around the world.