Citizen Communication: A Call to Simplify Technical Documents for Easy Consumption
It is deeply concerning that critical policy documents, crafted to guide economic reforms, inform public decisions, and shape development priorities are barely being read by the very people they are meant to serve. Development Diaries reports that the remarks by Central Bank of Nigeria (CBN) Governor Olayemi Cardoso and the findings of the recent United […]
Cybersecurity Levy: When Will President Tinubu Allow ‘The Poor Breathe’?
The imposition of a 0.05 percent cybersecurity levy deduction on electronic transfers by the Central Bank of Nigeria (CBN) is fundamentally unjust in an economy already burdened by poverty and reduced purchasing power due to inflation. Development Diaries reports that the CBN on 06 May directed banks in the country to implement a 0.5 percent […]
Bobrisky’s Arrest: Avoiding Abuse and Defacing Naira
Ignorance of the law is not an excuse. The arrest of controversial cross-dresser, Idris Okuneye, popularly known as Bobrisky, over alleged abuse of the naira should serve as a lesson on the proper use of the currency note. Development Diaries reports that the Economic and Financial Crimes Commission (EFCC) announced the arrest of Bobrisky for […]
CBN, FAAN Relocation: Citizens’ Distrust and Action Tinubu Must Take
Several reactions to the move by the Central Bank of Nigeria (CBN) to relocate some of its offices to Lagos State again confirm the worrisome level of citizens’ distrust in governance. Development Diaries reports that the Federal Airports Authority of Nigeria (FAAN) also plans to relocate its headquarters to the country’s former capital even as the […]
Naira Scarcity: What is CBN Not Telling Nigerians?
What is the Central Bank of Nigeria (CBN) doing as another naira scarcity builds up? Development Diaries reports that although the Central Bank of Nigeria (CBN) recently directed commercial banks to continue to issue and accept old naira notes, customers are still complaining of limited cash withdrawals. CBN directs Banks to issue, accept old, redesigned […]
How CBN Should Respond to Fresh Naira Scarcity
Recent reports of a fresh naira scarcity have emerged in parts of Nigeria, contradicting a recent assurance of the Central Bank of Nigeria (CBN) on the availability of sufficient bank notes. Development Diaries reports that the CBN had assured Nigerians of sufficient cash stocks in all locations across the country, hence no need for panic […]
Disregard for Rule of Law: Who Will Be Next ‘Emefiele’, ‘Bawa’?
The circumstances under which the former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, was arrested, detained, and released demonstrate disregard for the rule of law. Development Diaries reports that an Abuja High Court on Wednesday granted Emefiele bail after the Economic Financial Crimes Commission (EFCC) finally presented him before the court. The EFCC had […]
Nigeria: What Awaits Incoming CBN Governor
One of the most important tasks for the incoming Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, will be to resolve Nigeria’s foreign exchange (FX) harmonisation issues. Development Diaries reports that President Bola Tinubu recently nominated Cardoso to serve as the new head of the country’s apex bank. Essentially, Cardoso, with over 30 years of […]
Nigeria: Emefiele’s Arrest and ‘Fresh Criminal Infractions’
The Department of State Services (DSS) has said it has charged the suspended Governor of the Central Bank of Nigeria, Godwin Emefiele, to court. Development Diaries reports that this was in response to an Abuja High Court ruling that asked the DSS to either release Emefiele or charge him to court in seven days. It […]
DSS Confirms Emefiele’s Arrest But Silence on Sirika Lingers
The Department of State Services (DSS) has confirmed that the suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, is in the custody of the secret police. Development Diaries reports that the DSS confirmed Emefiele’s arrest on Saturday, 10 June, 2023, following unconfirmed reports of his arrest across social media. In a terse […]