LASG ISSUES TRAFFIC ADVISORY AHEAD OF FANTI CARNIVAL. (PHOTO). #PRESS RELEASE.

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 LASG ISSUES TRAFFIC ADVISORY AHEAD OF FANTI CARNIVAL The Lagos State Government has announced traffic diversions and restrictions ahead of the Lagos Fanti Carnival scheduled to hold on Monday, 6th April, 2026, around Tafawa Balewa Square (TBS), Lagos Island. In a bid to ensure a seamless and hitch-free carnival procession, vehicular movement will be restricted along major adjoining roads linking TBS. Affected Routes are; King George V Road (by Mobil Filling Station), Flag House inbound TBS, Force Road inbound TBS, Onikan Roundabout inbound TBS, and WaterBoy Roundabout by Old Defence House. Additionally, all link roads to Moloney Road, such as Military Road (by Old Defence Building), Ajasa Street, Boyle Street, and Hawley Street, will be closed to traffic during the event. To ease parking challenges, designated car parks have been arranged for public use, these include; the Yoruba Lawn Tennis Club Car Park, Zone 2 Car Park (opposite Island Club along King George V Road), Museum Kit...
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REPS URGE CBN TO TACKLE ONGOING CASH SCARCITY. (PHOTO).

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 Reps Urge CBN to Tackle Ongoing Cash Scarcity


The House of Representatives has raised concerns over the persistent cash scarcity in commercial banks across Nigeria, calling on the Central Bank of Nigeria (CBN) to resolve the issue that has caused significant hardship for Nigerians.


In a motion presented by Uguru Emmanuel under Matters of Urgent Public Importance, the House highlighted the severe economic and social consequences of the cash shortage, which has left many citizens unable to access funds for essential needs.


Emmanuel emphasized that consumer spending and business investment are vital for economic growth, but the ongoing cash shortage is hindering these activities. He recalled the CBN’s December 21, 2022 policy that set cash withdrawal limits of N500,000 for individuals and N5 million for corporate entities. However, he noted that commercial banks have largely ignored this policy, with some limiting withdrawals to as low as N10,000 or even none at all.


The lawmaker also pointed out the struggles faced by individuals and entrepreneurs, especially in rural areas, who depend on cash for transactions but lack access to digital payment options. He raised concerns about the link between commercial banks and Point of Sale (POS) operators, who appear to have unrestricted access to cash, often selling it at inflated prices.


Emmanuel warned that unless the CBN takes swift action, the situation could worsen, particularly with the upcoming festive season, deepening economic hardship for businesses and citizens alike.


In response, the House resolved to mandate the Committee on Banking Regulations to investigate the cash shortage in commercial banks and report its findings within one week. The CBN was also urged to address the scarcity or clarify if it is not the source of the problem.

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