• Netflix allegedly exits Nigeria, cites inflation as biggest investment challenge
• Senate and AGF set to review the Tax Reform Bill today
• CBN Governor reveals that all staff voluntarily requested retirement
• Banks announce new cash withdrawal limit as POS operators debut new charge fees
• First Lady wants National Hospital Cancer Centre renamed after Maryam Abacha

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

Netflix allegedly exits Nigeria, cites inflation as biggest investment challenge

After six years of operating in the Nigerian film production industry, reports that Netflix has announced its departure from Nigeria has circulated the internet, claiming that it would no longer release original films.

According to reports, the globally acclaimed streaming platform allegedly stated that it would be abandoning the Nigerian market as the country’s current economic inflation has become unbearable, and it has witnessed the loss of subscribers on the platform.

“We’ve lost too many paying subscribers, and the exchange rate of naira against the American dollar also did not help us in any way,” the reports claimed.

However, Netflix has debunked the rumour, claiming it was here in Nigeria to stay and had no thought of exiting the country any time soon. The streaming platform stated that it would continue to tell Nigerian stories and portray them in a light that would gain global attention.

Senate and AGF set to review the Tax Reform Bill today

The Senate, led by the Minority Leader, Senator Abba Moro (PDP, Benue South), is scheduled to meet with the Attorney General of the Federation (AGF) today, December 5, 2024, to review the Tax Reform Bill.

The meeting, which is expected to take place in Abuja, will address the controversial issues spotted in the Tax Reform Bill by all those opposing the bill.

Last week, the Senate passed the bill for a second reading after the Senate President ruled in favour of President Tinubu and others supporting the bill.

CBN Governor reveals that all staff voluntarily requested retirement

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso has defended the news of the bank retiring 1,000 staff with a ₦50 billion payoff, saying the decision was purely of the staff’s volition and of ni influence of his.

The CBN Governor released an announcement about the matter, saying the mass retirement was poorly portrayed in the media, stating that the staff had opted for an “Early Exit Package” (EEP).

The Acting Director of Corporate Communications, Mrs Hakama Sidi Ali, also shared her opinion about the news, clarifying that implementing the EEP resulted from extensive consultations with the Bank’s Joint Consultative Council (JCC). This union represents the staff’s interests.

Banks announce new cash withdrawal limit as POS operators debut new charge fees

Nigerian banks have all issued a new over-the-counter withdrawal limit as POS operators adjusted their charge fees due to the government’s levy fee.

Banks have now stated that customers can withdraw up to ₦50,000 over the counter compared to its previous ₦5,000 withdrawal limit.

However, while over-the-counter withdrawals have increased, the Automated Teller Machines (ATMs) withdrawal limit remains at ₦20,000.

First Lady wants National Hospital Cancer Centre renamed after Maryam Abacha

The First Lady of Nigeria, Senator Oluremi Tinubu, has stated her interest in renaming the radiotherapy centre at the National Hospital, Abuja, to honour the previous First Lady, Maryam Abacha.

The First Lady made her request known at the 25th-anniversary celebration of the National Hospital, Abuja (NHA), saying the hospital was only made possible due to Maryam Abacha’s efforts; therefore, renaming the hospital after her would be a tribute.