Central Bank of Nigeria
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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, […]
Some residents of Abuja and environs have lamented the scarcity of the new naira notes. The Central Bank of Nigeria (CBN) has restored the old 200, 500 and 1000 naira notes to remain as legal tender until Dec. 31. Correspondents of the News Agency of Nigeria (NAN) who monitored the availability of the new […]
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 […]
President Muhammadu Buhari has apologized to Nigerians over the new naira redesign policy. The president said it wasn’t introduced to cause hardship, but to boost the economy. Recall that in October 2022, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, announced the plan to redesign the N200, N500, and N1,000 […]
The First Lady of Nigeria, Aisha Buhari, on Tuesday came under criticism from the public over an alleged statement that the Central Bank of Nigeria is extending the validity of old N200, N500 and N1,000 notes to May 1, 2023. The alleged statement was issued by the Director of Communications, Osita Nwanisobi, stating that […]
The President, Major General Muhammadu Buhari (retd.), has said that the old N500 and N1,000 banknotes are no longer legal tender in the country. The president made this known on Thursday morning during an address to Nigerians were he also apologised to Nigerians over the difficulties experienced in accessing the scarce new naira notes. […]
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 […]
President Muhammadu Buhari has met with the Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele at the Presidential Villa Abuja. Emefiele is meeting privately with Buhari for the third time since the cash crunch started in the country. He however did not speak to journalists as he left the Presidential Villa. […]
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