News Flash: Finally, Senate passes PIB into law, 13 years after –concedes three percent revenue to host communities.
The PIB was first introduced into the National Assembly in 2008 as an Executive bill by then President, Umar Yar’Adua.
The Sixth National Assembly (2007 – 2011) failed to pass the bill.
The bill was reintroduced into the National Assembly in 2012 by President Goodluck Jonathan.
Court reverses self over contempt charge against Fidelity Bank chief
A Chief Magistrate Court sitting in Ikeja, Lagos has vacated its ruling that convicted and sentenced the Managing Director of Fidelity Bank,Nneka Chinwe Onyeali-Ikpe and Company Secretary of Fidelity Bank, Mrs. Unuigboje Ezinwa to six weeks in prison or a fine of Four Hundred Thousand Naira respectively for contempt.
Supreme court restrains FG from enforcing naira swap deadline
CBN succumbs to pressure, extends use of old naira notes to February 10
Up till Saturday, CBN had insisted on the 31st January deadline for the validity of the old N200, N500 and N1,000 despite overwhelming complaints that the notes are either not available or in short supply in the banks or their Automated Teller Machines.
Last October, Emefiele announced the Naira redesign policy which entails the issuance of new notes to replace the existing N200, N500 and N1,000 series.
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