Central Bank of Nigeria

    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 deputy Governor of the Central Bank of Nigeria in charge of Financial Stability, Aisha Ahmad, has said she does not know the quantities of new notes the CBN printed and released for circulation. Ahmad said so while responding to questions from lawmakers when she appeared before the House of Representatives to brief […]

    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 […]

    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 […]

    Following the move by the Central Bank of Nigeria, CBN, to redesign some Naira notes, the presidency has revealed how the development is affecting some billionaires who may have stashed the currency in their various houses. President Muhammadu Buhari’s Chief spokesman, Femi Adesina in an article on Friday, narrated how a customer stormed […]

    President Muhammadu Buhari says the Central Bank of Nigeria (CBN) has his backing to redesign the naira notes. According to the president, Nigeria has a lot to gain from the change in naira notes. He added that he did not consider three months for the change to the new notes as being short. […]

    The Governor of Central Bank of Nigeria, CBN, Godwin Emefiele, on Wednesday announced that 200, 500, & 1000 Naira notes will be redesigned in December 2022. CBN Governor, Godwin Emefiele, who disclosed this during a special press briefing in Abuja, equally advised Nigerians to return the existing old notes to their banks before […]

    Emirates Airlines has announced the suspension of its flights from Nigeria with effect from September 1, 2022. The airline’s decision was due to the inability to repatriate its funds from Nigeria. Recall that the airline had in a leaked letter to the Minister of Aviation, Senator Hadi Sirika, said it would reduce its […]

    The Central Bank of Nigeria has raised the interest rate to 13.5 per cent. CBN Governor, Godwin Emefiele, announced this on Tuesday while addressing the reporters after the Monetary Policy Committee meeting in Abuja. Justifying the raise, Emefiele said the MPC is suspicious “there might be an aggressive accretion of inflation”. To prevent […]


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