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Naira falls N777 against dollar after CBN announcement
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Tag: CBN

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 […]

A photo of the governor of Kano State, Dr Abdullahi Gandjue
Business

Reject old naira notes, be sanctioned, Ganduje warns businesses

The Governor of Kano State, Abdullahi Ganduje has said that banks and businesses rejecting the old naira notes will face sanctions. Am Business reported that the Supreme Court gave a ruling order that has constrained the Central Bank of Nigeria from implementing the extended deadline of February 10 because of the naira crunch. Ganduje cited […]

Adamu Garba
Business

New naira: CBN owes Nigerians explanation, says Adamu Garba

The former Senator of the Federal Republic of Nigeria, Adamu Garba has said that the Central Bank of Nigeria owes Nigerians an explanation and apology over the adverse impact of its naira policy. This was during his live appearance on The 2023 Verdict of Channels Television. This publication recalls that the CBN extended the deadline […]

Bismarck Rewane
Business

CBN policy may cost $18bn GDP loss monthly – Rewane 

The chief executive officer of Financial Derivatives Company, Bismarck Rewane, has said that the Central Bank of Nigeria’s policy on the currency swap would cost Nigeria a Gross Domestic Product loss of $18 million monthly. According to him, Nigeria may experience a total man hour loss of five days per month owing to the disruption […]

The logo of Chartered Institute of Banking Nigeria
Business

Naira redesign: Banks are not closing, says CIBN

The Chartered Institute of Bankers of Nigeria has debunked the rumours that commercial banks will close down. CIBN joined to support the refute by the Central Bank of Nigeria about the report on the closure of banks. Recall that the CBN on Friday debunked claims that it planned to close down some commercial banks. The […]

Godwin Emefiele, CBN Governor and the redesigned naira note
Banking Business

Naira redesign: CBN must follow rule of law, says NGF

The Nigeria Governors’ Forum has urged the Central Bank of Nigeria to follow the rule of law in driving its naira redesign policy. According to a report by Premium Times, the NGF made these statements in a communiqué that was released at the conclusion of its meeting on Saturday in Abuja. The statement was signed […]

Godwin Emefiele, CBN Governor and the redesigned naira note
featured

Naira crisis: CBN top officials meet on Monday

The top officials of the  Central Bank of Nigeria are to meet on Monday over the redesigned naira notes crisis. The aim of the meeting is to proffer solutions that will address the naira hardship. The Punch reported that the meeting will review the advice offered by the National Council of State. The Council suggested […]

Money bouquet, others abuse naira, CBN warns Nigerians
News

Money bouquet, others abuse naira, CBN warns Nigerians

  Wilson Adekumola   The Central Bank of Nigeria on Friday warned Nigerians against the practices deemed abusive to the naira currency. In a warning issued on Twitter, the apex bank told Nigerians that oractices such as money bouquet, squeezing, selling, and defacing as forms of naira abuse. Also included on the list of acts […]

JUST IN: Make new naira available, Council of State orders CBN
Economy featured

Make new naira available, Council of State orders CBN

Christian George The Council of State has ordered the Central Bank of Nigeria to make the newly redesigned naira notes available in large quantity to Nigerians. The Governor of Taraba, Darius Ishaku, made the disclosure to newsmen on Friday after the Council of State emergency meeting held in Abuja. He said, “the CBN was advised […]