Newspaper Headlines: Naira crisis halts economy as customers’ cash request overwhelms banks

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Newspaper Headlines: Naira crisis halts economy as customers’ cash request overwhelms banks

General

February 21, 2023

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Reports on the crisis trailing the naira redesign policy, including protests in Ogun state, dominated the cover pages of Nigerian newspapers.

The Punch reports that members of the organised private sector have raised the alarm that the naira crisis has grounded the economy. The newspaper says a report from the National Bureau of Statistics (NBS) indicated that Nigerians paid the sum of N257.12 per litre for petrol in January 2023.

The Nation reports that banks across the country have been overwhelmed with customers’ demand for cash amid the lingering naira scarcity. The newspaper says the south-west leaders have endorsed the candidacy of Bola Tinubu, presidential candidate of the All Progressives Congress (APC).

The Guardian says the APC is not leaving anything to chance in enforcing the order of the supreme court on the validity of old naira notes amid the directive of President Muhammadu Buhari. The newspaper reports that a federal high court in Lagos has barred the Independent National Electoral Commission (INEC) from engaging the services of Musiliu Akinsanya, popularly known as MC Oluomo, chairman of the Lagos parks and garages, for the distribution of election materials and ad-hoc staff in the state.

THISDAY reports that Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), has accused the APC governors of provoking anarchy over the naira redesign policy. The newspaper says Lucky Irabor, the chief of defence staff, has assured Nigerians that the military is prepared to secure the country during the forthcoming polls.

Daily Independent reports that protesters have set two banks ablaze in Sagamu area of Ogun state over the lingering naira scarcity. The Pan-Niger Delta Forum (PANDEF) said the endorsement of Peter Obi, presidential candidate of the Labour Party, was sacrosanct, the newspaper says.

Source: Top Stories