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100% cashless economy possible in Nigeria - Emefiele
Policy and Regulations

BREAKING: CBN bows to pressure, okays Dec 31 old naira notes deadline

Cbn itThe Central Bank of Nigeria has said that the old N200, N500, N1,000 banknotes remain legal tender till December 31, 2023.   This announcement was made by the apex bank’s Acting Director of Corporate Communications, Isa AbdulMumin, on Monday in a statement, according to Channels TV.   The statement read, “In compliance with the […]

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News

CBN disowns Soludo’s old naira statement

The Central Bank of Nigeria has debunked claims of ordering banks nationwide to begin dispensing and accepting old naira notes.   This development on Monday is coming after a former CBN governor, Chukwuma Soludo, had written through his social media handle that the CBN governor, Godwin Emefiele, in a Bankers’ Committee meeting on Sunday had […]

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Business

CBN faults IMF’s report on 24% Anchor Borrowers’ payment 

The Central Bank of Nigeria has revealed that a total of N503bn representing 52.39 percent of the disbursed funds under the Anchor Borrowers’ Programme  has been paid by farmers. This contradicts the claim by the International Monetary Fund that only 24 percent of the loan had been paid. The new development was disclosed in a […]

Court Symbol of Justice
Business

Mixed reactions as S’Court reverses Buhari, CBN new, old naira order

There have been mixed reactions from Nigerians as the Supreme Court of Nigeria on Friday declared the Federal Government’s cashless and Naira redesign policy invalid, declaring it as an affront to the 1999 Constitution. This publication recalls a suit was filed by Zamfara, Kogi and Kaduna state governments against the Attorney-General of the Federation on […]

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Business featured

BREAKING: Old N200, N500, N1000 valid till Dec 31- Supreme Court  

Juliet Buna The Supreme Court of Nigeria on Friday in Abuja nullified the Federal Government’s cashless and Naira redesign policy, declaring it as an affront to the 1999 Constitution. According to Dailypost, The Apex Court held that President Major General Muhammadu Buhari (retd), breached the Constitution of the Federation in the ways and manners he […]

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Business featured

76% CBN Anchor Borrowers’ loans unpaid – IMF

The International Monetary Fund has confirmed that 76 percent of loans disbursed under the Central Bank of Nigeria’s Anchor Borrowers’ Programme, for farmers have not been returned. This is according to information provided by the International Monetary Fund in its Selected Issues paper on Nigeria. The issue paper was created by the fund’s staff team […]

First Bank's deputy MD Gbenga Shobo resigns
Banking

First Bank’s deputy MD Gbenga Shobo resigns

The First Bank of Nigeria’s deputy managing director, Mr. Gbenga Shobo,  has resigned from the company’s board of directors with immediate effect. Shobo’s departure came after CBN recently reviewed the term restrictions for bank managing directors, deputy managing directors, executive directors, and other officials, according to a tweet from Proshare. According to the latest CBN circular […]

CBN gets new spokesperson
Banking

CBN gets new spokesperson

Buna Juliet The Central Bank of Nigeria has announced the appointment of Dr Isa Abdulmumin as the acting Director of the Corporate Communications Department of the apex bank. Abdulmumin, formerly a deputy director, takes over from Osita Nwanisobi, who retires from the apex bank after serving as the Director of Corporate Communications since 2021. The […]

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Business

Elections: No plans to shut down bank transactions, CBN insists

The Central Bank of Nigeria has debunked rumours spreading that it plans to shut down bank transactions from February 23 to February 27, 2023 because of the forth coming election. This fake new was confirmed on the verified Instagram account of the apex bank on Wednesday where it advised Nigerians to be “wary of fake […]

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