CBN
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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, […]
A house of representatives ad hoc committee has rejected the deadline extension for the validity of the old naira notes. The Central Bank of Nigeria (CBN) had earlier fixed January 31 as the deadline for depositing the old N200, N500, and N1000 notes. But on Sunday, Godwin Emefiele, CBN governor, announced that President Muhammadu […]
The Central Bank of Nigeria (CBN) has warned that it will penalise banks that fail to comply with its directive to dispense the newly redesigned N200, N500 and N1,000 through their Automated Teller Machines (ATMs). The warning was issued yesterday by the CBN Director, Currency Operations Department, Ahmed Umar, during a training session […]
The Central Bank of Nigeria (CBN) on Wednesday bowed to pressure from many Nigerians and lawmakers as it announced an upward review of its cash withdrawal limits directive. Individuals can now withdraw N500,000 cash weekly and corporate entities can now withdraw up to N5 million cash across all channels including Automated Teller Machines […]
The Economic and Financial Crimes Commission, Makurdi office, and Benue State Police Command have debunked the report trending on social media of the alleged discovery of old naira notes in the capital city, Punch reports. On Tuesday a video went viral online showing sacks of money perceived as the old naira notes which […]
Following the absence of Senator Uba Sani, the Chairman of the Committee on Banking and Finance, the Senate has postponed its debate on the new Central Bank of Nigeria (CBN) cash withdrawal policy till 14th December 2022. Senator Olubunmi Adetumbi, a member of the Committee in a Point of Order on Tuesday, explained […]
The Central Bank of Nigeria, CBN, has reduced the maximum over-the-counter (OTC) cash withdrawal per week for individuals to N100,000 and N500,000 for corporate organisations. The apex bank also limited individual Point of Service (POS) to N20,000 per day. This information was contained in a circular by the CBN and addressed to all […]
The governor of Edo state, Godwin Obaseki, has said that the federal government’s plan to redesign the naira notes is a political move. It was during the inauguration of the Edo Peoples Democratic Party Women Campaign Council on Wednesday at the presidential campaign secretariat in Benin, the governor made the statement. On October […]
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