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The old 500 and 1000 naira noted
Business

CBN orders banks to collect the N500, N1000 notes

The Central Bank of Nigeria has ordered commercial banks to collect the N500 and N1000 notes from people as deposits, with immediate effect. However, the apex bank still stands on the fact that the old N500 and N1000 are no longer legal tender. Meanwhile, they are still redeemable when taken to commercial banks. CBN pegged […]

PHOTOS: Ogun market women protest naira scarcity
Business

PHOTOS: Ogun market women protest naira scarcity

Marcus Amudipe The current shortage of naira notes and the rejection of the old N1,000 and N500 notes has made market women in Ogun State on Friday morning storm the market to protest. AM Business on February 14 reported that the Central Bank of Nigeria has declared that the old naira notes had ceased to […]

Dangote to slash sugar import by 40%
Business

Dangote urges engagement to promote trade in Kaduna

DanOne of the sponsors of the 44th Kaduna International Trade Fair, Dangote Industries Limited, has urged for increased engagement to promote trade in Kaduna State and its surroundings. The statement made by the company at the ongoing trade fair was that participants who wish to carry out business with any of the company’s subsidiaries may […]

President of the MAN, Francise Meshioye
Business featured

Naira scarcity disrupting businesses, manufacturers lament  

The Manufacturers Association of Nigeria has said the scarcity of naira has disrupted the proper movement of goods which is adversely affecting businesses. The Association’s president, Otunba Francis Meshioye, made this statement on Tuesday while he interacted with journalists in Lagos. According to The Punch, Meshioye said the scarcity of naira and resultant traffic on […]

FEC approves Nigeria's electronic cargo tracking system
Business

FEC approves Nigeria’s electronic cargo tracking system 

The  Federal Executive Council has approved the establishment of an electronic cargo tracking note scheme for Nigeria. The News Agency of Nigeria reported that the Minister of Transportation, Alhaji Mu’azu Sambo, informed State House correspondents of this at the conclusion of the Council meeting held on Wednesday in Abuja under the chairmanship of President Muhammadu Buhari. “Council […]

The snippet of the CBN's registration portal dashboard
Business

Mixed reactions as CBN launches old naira notes deposit portal

The Central Bank of Nigeria has on Tuesday stated that it would launch an online registration portal that would facilitate the process of depositing old notes in any of its branches. The portal was opened on Wednesday to the public and people have been urged to make their registrations provided they have an account, Bank […]

Buhari to inaugurate Dala International Inland Dry Port on Jan. 30
Business

Buhari approves old N200 note as legal tender till April 10

The President, Major General Muhammadu Buhari (retd), has given the Central Bank of Nigeria the order to allow the use of the old N200 note alongside the new ones until April 10, 2023. This was said in the early hours of Thursday as the president addressed Nigerians live on a nationalbroadcast. He emphasised that Nigerians […]

Abuja court gives DSS one week to charge Emefiele or release him
Banking

CBN launches portal to ease old naira notes collection

The Central Bank of Nigeria has established a portal for the collecting of old naira notes. TheCable reported that the CBN on Wednesday posted a notice headed “redemption of currency” on its website. The notification includes a link to the webpage where Nigerians can deposit or redeem their old N1,000, N500, and N200 notes by […]

How to report PoS agents with high charges - CBN
Business

How to report PoS agents with high charges – CBN

The Central Bank of Nigeria has made emergency phone numbers available to the general public so that they can report dishonest Point of Sales operators who are selling new naira notes and those who are charging excessive withdrawal fees. This was announced by the Director of the CBN Governor’s Department, Joseph Omayuku, during a press […]

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