SARAKI DENIES TAKING STANCE ON OPPOSITION PARTY MERGER AHEAD OF ELECTIONS. (PHOTO).

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  Former Senate President Bukola Saraki has clarified that he has not taken a position on the ongoing discussions about a potential merger of opposition political parties aimed at challenging the ruling All Progressives Congress (APC) in the upcoming general elections. The statement comes amid reports of prominent political figures meeting to explore forming a united front against President Bola Tinubu’s administration. An online report had recently claimed that Saraki, a former Governor of Kwara State, dismissed the idea of joining a mega party to oppose the APC during a Peoples Democratic Party (PDP) stakeholders’ meeting in Ilorin. However, Saraki’s Media Office swiftly refuted the story in a statement signed by Yusuph Olaniyonu, calling it a fabrication and urging the public to disregard it. The media office condemned what it described as a deliberate misrepresentation by opposition elements in Kwara State, accusing them of spinning the narrative and circulating fake quotes alo...
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CBN SPENDS N58.6 BILLION TO PRINT 2.5 BILLION PIECES OF NAIRA NOTES.{PHOTOS}

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The Central Bank of Nigeria spent the sum of N58.618 billion to print 2.518 billion Naira notes, valued at 1. 063 trillion in, 2020.


This was contained in the bank’s 2020 Currency Report posted on its website.


It indicated a decrease in the bank’s expenditure on currency printing, which stood at N75. 523 billion, in 2019 and N64. 040 billion, in 2018.


The current management of the CBN under the leadership of Mr. Godwin Emefiele, has been driving the cashless policy with a view to cutting the cost of printing bank notes and cash management, in the country. The new e-Naira was also initiated in line with the policy.


According to the report, “The total cost incurred on printing of banknotes in 2020 amounted to N58,618.50 million, compared with N75,523.50 million in 2019, indicating a decrease of ₦16,905.00 million or 28.84 per cent.”

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