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Currency in Circulation Falls to N1.824 Trillion in July

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500 and 1000 naira bills (Nigerian currency)
  • Currency in Circulation Falls to N1.824 Trillion in July

The currency in circulation fell by N75.84 billion to N1.824 trillion in the month of July, down from the N1.9 trillion filed in June 2018.

According to the Central Bank of Nigeria, the figure rose from N1.93 trillion in February to N2.03 trillion in March.

The CBN report also showed that the total currency in circulation stood at N1.95 trillion and N1.93 trillion in April and May, respectively.

The drop in the figure has been attributed to the surge in electronic payment like rising use of Automated Teller Machines, Point of Sale and mobile transfers.

Speaking on factors affecting currency in circulation, the Chief Executive Officer, Economic Associates, Dr Ayo Teriba said: “The e-money is displacing the naira on the retail fund as a means of payment, as a store of value, foreign currency is replacing the naira. So that trend may continue until you have a negligible amount of naira in circulation.”

Nigerians no longer need cash to pay for things at the supermarket or restaurant as they can now pay with their bank card.

Teriba said, “Instead of giving people cash, you can transfer, so many of the things that you needed to use cash for in the past you don’t need currency for them now. Electronic money is displacing cash at the retail end.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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BREAKING: Supreme Court Justice Sylvester Ngwuta Is Dead

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Nwali Sylvester Ngwuta, a justice of the Supreme Court, is dead

The judge, 69, died just about three weeks to his 70th birthday on March 30 when he will be due for retirement from the bench.

A statement by the Chief Registrar of the apex court, Hadizatu Mustapha, said Mr. Ngwuta died in his sleep at about 2.30 am on Sunday.

The statement added that Mr. Ngwuta, who hailed from Ebonyi State, had been admitted at the National Hospital in Abuja for about one week before his death.

He was said to have been moved to the Intensive Care Unit (ICU) of the hospital on Friday and was also said to have tested negative for COVID-19 following an investigative test carried out on him at the ICU.

The statement read, “The Supreme Court of Nigeria regrets to announce the death of the Hon. Mr. Justice Nwali Sylvester Ngwuta, JSC, CFR, by 2.30 a.m. on Sunday, March 7, 2021.

“He felt sick and was admitted in the last one week in the National Hospital, Abuja, but before he was moved to the intensive care unit (ICU) of the hospital on Friday, March 5 he tested negative to COVID-19 investigative test conducted on him.

“Hon. Justice Ngwuta was due to retire from the Supreme Court bench on attaining the mandatory retirement age of 70 years on March 30, 2021.

“His remains have been deposited in the National Hospital mortuary pending the arrangement for his burial.

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Affordable Pay-TV Provider, StarTimes Slashes Decoder Price, Introduces Easter Promo

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In the spirit of Easter celebration, StarTimes is offering a decoder price slash as well as free access to a higher bouquet for its subscribers.

The promo starts Monday, March 1.

The antenna decoder will go for N7400 as against N9400 while dish decoder will go for N11,200 as against N13,200. StarTimes has over 100 channels showing exciting foreign and local entertainment.

Also, The Easter promo starting on Monday gives subscribers the opportunity to pay for a 2-month subscription on Nova, Basic, and Smart bouquets and get an instant upgrade to view the next higher bouquet for two months. While customers on Classic and Super bouquet who recharge for two months will get 10 days extra.

Loyal subscribers will also be treated to richly-packed Easter hampers.

According to the Content Marketing Manager, StarTimes Nigeria, Ali Auta, the essence of the promo is to allow its subscribers enjoy the Easter holiday with access to an array of channels on a higher bouquet than they normally watch and unlimited entertainment at a very little cost.

“Nova bouquet is N900 monthly. So customers who pay N1800 for a two-month subscription will get an instant upgrade to view Basic/Smart bouquet for two months. Basic bouquet is N1700 monthly and Smart is N2200. So a customer who pays N3400 for two months for basic or N4400 for smart bouquet will be migrated to enjoy all the content on Classic and Super bouquets respectively for two months. Subscribers who key into the promo will save a minimum of N1,600,” Mr Ali said.

On the exciting content line-up, Mr Ali said, “As Easter approaches, families like to spend quality time watching TV series and movies together at home. They will access top Nollywood films on PBO TV and AMC Movies. On Novela E Plus, TLNovelas and TDC, they will be able to browse great dramas & telenovelas from across the globe. Also, loads of Hollywood, Bollywood and Chinese movies and series will thrill them.

“News and documentaries aficionados can also enjoy thrilling programs on Fox News, News Central, National Geographic Channel (NGC) and NatGeo Wild (NGW), etc.

“Kids are not forgotten with amazing channels: Cbeebies, Toonami, Jimjam, BabyTV, Nickelodeon, ST Kids, Pineapple TV and DreamWorks.

“In terms of sports, StarTimes subscribers will have access to exciting football, basketball, boxing and mixed martial arts sports. StarTimes airs Europa League, the Emirates FA Cup, Copa del Rey, Coppa Italia, Bundesliga, La Liga, among others, live and in HD. Also, MUTV, a dedicated channel for Manchester United is now on StarTimes.”

“Thus, our Easter decoder price slash and upgrade promo give families more reasons to sit at home and enjoy quality entertainment together for less the bouquet price,” Mr Ali said.

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Person With Disabilities, PWDs, Calls for Inclusion in COVID-19 Vaccine Priority Group

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Persons with disabilities, under the auspices of Centre for Citizens with Disabilities, CCD, on Friday expressed concerns over alleged exclusion from the priority groups that would first receive COVID-19 vaccination.

In a statement signed by David Anyaele, Executive Director, CDD, persons with disabilities are susceptible to contact COVID-19 infection compared to able-bodied persons, hence they should be prioritised for the vaccine.

The statement reads, “As laudable as the effort of the federal government on the public vaccination against COVID-19, CCD is worried that persons with disabilities are missing amongst the prioritizing groups to be vaccinated from this batch.

“We are also concern that the developing protocols for vaccination of Nigerians made no reference to persons with disabilities. Our worries is premised on the fact that persons with disabilities are susceptible to contact COVID bearing in mind their inability to operate independently most time hence the need to be given topmost priority in vaccination exercise.

“It is on this note that CCD is calling on the Presidential Task Force (PTF) and the States Task Force on COVID-19 to: Prioritize persons with disabilities in the first groups of public vaccination. This is because PWDs in Nigeria are highly discriminated by State and non-State institutions in particular healthcare service providers.

“Ensure the venues for vaccinations are accessible to persons with disabilities in line with Discrimination against Persons with Disabilities (Prohibition) Act 2018. PWD must suffer further disability in their efforts to get vaccinated as more than 95% of public infrastructures are not accessible to citizens with disabilities.

“All Covid-19 vaccination information, education, and communication materials should be accessible to all. Where there is a video material, we request that such material has a sign language interpreter inserted on the video, and the audio advert must ensure that all information is pronounced for the benefit of the deaf and blind citizens, the process should be communicated inaccessible manner to all persons with disabilities.

“No one should be left behind in the distribution and administration of Covid-19 vaccination by reason of his or her disability.”

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