The hawking of naira notes at exorbitant rates has surged across Nigeria as citizens continue to grapple with limited cash availability in banking halls, despite repeated warnings and threats from the Central Bank of Nigeria (CBN). EDITOR’S PICKS PDP Declares Ethiope East Federal Seat Vacant Following Ibori-Suenu’s Defection to APC Retired Principals Call for Recognition … Read more
The Central Bank of Nigeria (CBN) has directed commercial banks to prioritize cash disbursements through automated teller machines (ATMs), warning that failure to comply will attract strict penalties. EDITOR’S PICKS Trump Taps Fox News Host Pete Hegseth As Defence Secretary Sanwo-Olu Appoints Barr. Rekiya Olufunke Hassan as new Chairman of Onigbongbo LCDA Meter Replacement Violations … Read more
EKO HOT BLOG reports that the Trade Union Congress of Nigeria (TUC) has threatened to mobilize and proceed on a fresh strike if the government and the Central Bank of Nigeria (CBN) fail to resolve the lingering cash scarcity issue. The TUC in a statement on Friday lamented the hardship Nigerians are going through as … Read more
Eko Hot Blog reports that customers of some commercial banks in Osogbo, the Osun State capital have expressed dissatisfaction with the poor servic ites provided by Automated Teller Machines (ATMs). According to Daily Post, many ATMs of commercial banks were not dispensing cash over the weekend, causing inconvenience for customers. Several banks visited were observed … Read more
EKO HOT BLOG reports that the Governor of the Central Bank of Nigeria (CBN), Olayemi Michael Cardoso on Thursday, received one of his predecessors in office, and former Emir of Kano, Muhammad Sanusi Lamido. The visit is understood to be the first official meeting between the two financial giants since the emergence of Cardoso as … Read more
NLC has called off its scheduled strike over the scarcity of Naira in the country. EKO HOT BLOG reports that the proposed nationwide strike by the Nigeria Labour Congress (NLC) due to the scarcity of naira notes across the country has been suspended. It would be recalled that the NLC had planned to begin a … Read more
Ngige, the NLC and the CBN held a meeting on Monday in order to prevent a nationwide strike over Naira scarcity. The Minister summoned the meeting behind closed doors to negotiate with Labour Union. A nationwide strike was proposed by the apex labour union and scheduled to begin on Wednesday. EKO HOT BLOG reports that … Read more
The NLC has directed workers to organize demonstrations at the CBN premises nationwide. The directive comes following the continued scarcity of Naira in the country. The President of the NLC, Joe Ajaero, issued the instruction on Wednesday in Abuja. EKO HOT BLOG reports that the Nigeria Labour Congress leadership has instructed workers to stage protests … Read more
ECOWAS has urged Buhari to tackle fuel and naira scarcity before holding the 2023 elections. The resolution of the insecurity crisis in the country was identified by ECOWAS as a prerequisite for the February 25 election. Ernest Bai Koroma, gave this admonition during his visit to the Minister of Foreign Affairs, Geoffrey Onyeama, on Wednesday … Read more
The APC Chairman and three governors met with the Attorney General ahead of a Supreme Court hearing on the naira swap policy. The governors had previously taken the government to court, saying the policy was hurting the economy. The APC Chairman called on President Buhari to intervene, saying the policy was causing difficulties for Nigerians … Read more
Some governors of Nigeria’s APC did not attend an emergency meeting called by the party’s NWC on Sunday. The meeting was to discuss issues related to the 2023 elections, fuel scarcity, and the shortage of naira in the economy. The governors who did not attend included Babagana Umara Zulum, Ben Ayade, and Rotimi Akeredolu. EKO … Read more
The Ogun State Police received intelligence reports of planned disruption of public peace amid the naira and fuel scarcity situation. The police warned that attacks may occur on banks and other public and private infrastructures. Security measures have been put in place, and Police Officers have been directed to arrest anyone trying to cause a … Read more
Hoodlums have destroyed three commercial banks in Rivers State. The affected institutions are First Bank, Keystone Bank, and the First City Monument Bank. The hoodlums reportedly looted computer monitors, desktops, water dispensers, and other items inside the bank. EKO HOT BLOG reports that during a protest against the Central Bank of Nigeria’s naira redesign policy, … Read more
Violence has broken out in Lagos over Naira scarcity. The Lagos State Police Public Relations Officer, Benjamin Hundeyin, has confirmed the unrest happening in Mile 12. Hundeyin stated that reinforcement units have been deployed to the area. EKO HOT BLOG reports that fights have broken out in some areas on the popular Lagos-Ikorodu expressway in … Read more
President Buhari has departed Abuja for AU Summit in Addis Ababa. Buhari will be accompanied on the trip by some Ministers and other top government officials. He is expected to return to Abuja on Monday, February 20. EKO HOT BLOG reports that President Muhammadu Buhari will on Thursday depart Abuja for Addis Ababa, Ethiopia, to … Read more
Buhari addressed the controversial cash swap policy, which has caused difficulties in the implementation of new monetary policies. He reassured Nigerians that the economy, security, and blockage of illicit financial flows remain top priorities for his administration. The president also outlined critical points underpinning the policy decision and the gains that emerged from the policy … Read more
Protests have resumed in Ibadan over fuel and Naira scarcity. The protest has caused serious gridlock in the Eleyele area. Checks by journalists revealed that motorists have been turning back while schoolchildren hurriedly return home for fear of being attacked. EKO HOT BLOG reports that protesters have blocked the ever-busy Eleyele junction in the Ibadan … Read more
By FEMI ODERE When the governor of the Central Bank of Nigeria (CBN) Mr. Godwin Emefiele announced in October that the country’s three high denominations would undergo a facelift by changing their colours and that the notes whose colours would be changed would cease being the country’s legal tender by January 31, 2023, not a … Read more
Buhari met with Emefiele at Aso Rock over the Naira swap crisis. This is the third time the CBN governor has been meeting with the President since the Naira crush crisis in the country. Since February 10, Nigerians have been hit by Naira scarcity due to the swap of the currency. EKO HOT BLOG reports … Read more
By Tunde Odesola S-s-s-s-h-h-h! Q-u-i-e-t! I’m in the Forest of a Thousand Demons. Please, don’t fear for my safety, I’m ok. It’s dangerous, though. I can only listen, watch and text. S-s-s-s-s-h, s-i-l-e-n-c-e! It’s election season, the forest is buzzing with a frenzy; demons are on the prowl, campaigning. EDITOR’S PICKS PDP Expels Nnamani, Fayose’s … Read more