Former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, has been released from the custody of the Department of State Services (DSS). A reliable source told the Cable that Emefiele was taken into custody by the Economic and Financial Crimes Commission, (EFCC) immediately after his release from DSS. The former CBN boss […]

    The Central Bank of Nigeria has allowed commercial banks to freely trade foreign exchange at any rate This announcement is coming after the suspension of Godwin Emefiele the CBN governor. Details shortly.  

    The Central Bank of Nigeria, CBN, yesterday, reacted to reports that it planned to phase out the newly redesigned N1,000, N500 and N200 Naira notes. Dr. Isa AbdulMumim, Ag. The Director, Corporate Communications of the bank, yesterday, described the reports as “fake news.” While advising members of the public to ignore such reports, […]

      The Central Bank of Nigeria (CBN) says the old N200, N500 and N1000 notes remain legal tender until December 31, 2023. Isa Abdulmumin, the CBN spokesperson, announced the development in a statement on Monday. “In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law […]

  Kaduna State Governor, Nasiru El-Rufai has claimed that what President Muhammadu Buhari approved was different from what the Central Bank of Nigeria, CBN, did regarding the redesigning and swapping of the currency. In a statement titled: ‘Nigeria Update: ABC of Currency Redesign vs. XYZ of Cash Confiscation Explained’, the governor shared on Twitter, Sunday […]

  The Central Bank of Nigerian has debunked reports of her directing commercial banks to accept N500 and N1000 notes from Nigerians. This was issued in a press release by the apex bank shared on its official Twitter handle on Friday. The statement read: “The attention of the Central Bank of Nigeria has been drawn […]

  Due to the scarcity of the new naira notes and the increasing rate at which point of sales (PoS) agents sell the new naira notes and the high charges for the withdrawal, the Central Bank of Nigeria (CBN) has released emergency telephone numbers to the public to officially report any defaulter. The Director, CBN […]

  The presidency says its position on the deadline for old naira notes will be made known today. The governments of Zamfara, Kaduna, and Kogi had asked the supreme court to stop the Central Bank of Nigeria (CBN) from ending the timeframe within which the old N200, N500, and N1000 notes would cease to be […]

    On Wednesday the Supreme Court in Nigeria has restrained the Federal Government from enforcing the February 10 deadline for the use of N200, N500 and N1000 old Naira notes. In a unanimous decision by  seven member panel at the apex court halted the Central Bank of Nigeria, CBN, from implementing the naira note […]

    A High Court in Abuja has compelled the Central Bank of Nigeria (CBN) to go ahead with the full implementation of the naira redesign policy. Delivering a ruling on Monday in a suit marked FCT/HC/CV/2234/2023, the court restrained the CBN from extending the deadline on the use of old naira notes. The CBN, […]


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