Central Bank of Nigeria
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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 […]
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. […]
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