Central Bank of Nigeria
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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. […]
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 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 […]
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