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Top related persons:
Hanwa - 1 ” - 1 ” Hanwa - 1 Jume Hanwa - 1 Nimi Princewill - 1 Bola Tinubu - 1 Tinubu - 1 Usman Imam - 1
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Abuja Nigeria Nigeria’s Nimi Kano Africa’s Maraba Nasarawa State
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3 mentions found


☆ Nigeria's cost-of-living crisis is getting worse daily after an 'abrupt' fuel hike
  + stars: | 2023-07-07 | by ( Nimi Princewill | ) edition.cnn.com   time to read: +9 min
“The hike in fuel price has caused a scarcity of passengers,” Hanwa, 50, added. “Before the hike in fuel price, Abuja to Kano was 5,500 ($7.26) but is now 8,500 ($11.22),” he said. Successive governments had carried on with fuel subsidy since its introduction in the 1970s but had also mooted deregulating the country’s oil sector. Along with soaring transport fares, food prices and costs for other essentials have skyrocketed across the country. Economist Bismarck Rewane agrees that halting fuel subsidy “makes economic sense,” but mentions that the saved proceeds from the scheme must be ploughed back into bettering the lives of Nigerians.
Persons: Hanwa, ”, ” Hanwa, Jume Hanwa, Nimi Princewill, Bola Tinubu, Tinubu, Usman Imam, “, Sam Amadi, ” Amadi, ” Fabian Grace, Grace, who’s, Fabian Grace, ” Grace, “ I’ve, I’m, Bismarck Rewane, ” Rewane Organizations: Nigeria CNN —, CNN, CNN Transport, National Petroleum Corporation, ” Travelers, Usman, Abuja School of Social Locations: Abuja, Nigeria, Nigeria’s, Nimi, Kano, Africa’s, Maraba, Nasarawa State, Edo State
☆ Nigeria delays plans to replace its banknotes after chaotic scenes at ATMs
  + stars: | 2023-02-08 | by ( Nimi Princewill Stephanie Busari | Nimi Princewill | Stephanie Busari | ) edition.cnn.com   time to read: +8 min
Abuja, Nigeria CNN —Nigeria was forced Wednesday to delay plans to replace its banknotes with a redesigned currency after chaotic scenes at ATMs as millions of people struggled to get their hands on the new cash. The new naira notes are, however, “fortified with security features that make them difficult to counterfeit,” President Buhari said last year. Across the country, banks have increasingly become targets of mounting anger over the frustrating search for the new naira notes. Angry Nigerians vandalise Bank premises over frenzy of new naira notes. Nigerians are desperately relying on their banks to distribute new bills after the February 10 deadline to exchange the old currency saw many scrambling to deposit their old notes.
☆ Nigerians unimpressed with resigned Naira banknotes
  + stars: | 2022-11-25 | by ( Nimi Princewill | ) edition.cnn.com   time to read: +4 min
The Central Bank of Nigeria (CBN) says that the redesigned notes will replace notes currently in circulation by Jan. 2023. But many locals are not impressed, describing the supposedly redesigned banknotes as a mere color revamp, given their similarities to the old notes. “Snapchat filter, waste of time and resources, so a whole CBN cannot employ experts to redesign the naira notes. The Nigerian leader added that replacing the current currency with the redesigned notes will help to combat the hoarding of funds outside of the banking system. Old naira notes will be completely phased away by the end of January next year, the CBN says, as locals scramble to deposit their old notes at commercial banks.
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