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Tag: CBN

Court Symbol of Justice
Business

Naira redesign suit against FG resumes Wednesday 

The Supreme Court’s hearing over naira redesign which was adjourned after a session on February 17 will resume today (Wednesday). This publication recalls a suit was filed by Zamfara, Kogi and Kaduna state governments against the Attorney-General of the Federation on February 3. Other states like Katsina, Lagos, Cross River, Ogun, Ekiti, Ondo and Sokoto […]

The First Lady, Aisha Buhari
Business

Old naira: Aisha Buhari blames hacker for fake post

The First Lady of Nigeria, Aisha Muhammadu Buhari has blamed hackers for the fake post regarding the recirculation of the old naira notes which went viral in the early hours of Tuesday. This declaimer was shared to the public in a facebook post Aisha made in the late hours of Tuesday. The Facebook post reads […]

Emefiele is worse CBN gov in history, says Moghalu
News

New naira: CBN to arrest, prosecute Nigerians spreading fake news

The Central bank of Nigeria has urged Nigerians to be guided as it is working with law enforce agencies to prosecuted and apprehend the purveyors of fake news. The CBN made this announcement on Tuesday, not long after first lady Aisha Buhari posted a press release saying that her husband, President Muhammadu Buhari, had ordered […]

ASSBIFI halts strike, mandates banks to reopen
Banking featured

ASSBIFI halts strike, mandates banks to reopen

Commercial banks have been ordered to comtinue operations as of Monday, February 20, 2023, according to a statement from the Association of Senior Staff of Banks, Insurers, and Financial Institutions. The association announced this while delaying the start of its planned strike action on Monday. Recall that there were numerous instances of protests and bank […]

FG to restart cash transfers to poor Nigerians
News

Naira crisis: CBN seized money, didn’t swap it, says El-Rufai

Kaduna State governor, Nasir El-Rufai, claimed on Sunday that the CBN adopted a currency confiscation strategy rather than the indicated currency swap program that had been endorsed by the president, Major General Muhammadu Buhari (retd), for the redesign of the national currency. According to The PUNCH, the naira issue got worse last Thursday when the […]

Ex-ANAN president, Dr. Samuel Nzekwe
Banking

Bank vandalism not solution to naira scarcity – Ex-ANAN president

Wilson Adekumola     The Former President, Association of National Accountants of Nigeria, Dr Samuel Nzekwe has admonished the protesters across the country against destroying Government and bank properties, saying bank vandalism is not a solution to naira scarcity.     Nzekwe gave this admonition while speaking with journalists on Sunday in Ota, Ogun State […]

NUPENG, EFCC collaborate to combat oil theft
News

EFCC, ICPC investigate Nigerians depositing millions of old N500, N100 at Ilorin CBN

Anti-corruption agencies have began investigating the depositors of millions of old N500 and N1,000 notes at the Central Bank of Nigeria’s Ilorin branch. According to Daily Post, operatives of the Economic and Financial Crimes Commission, and Independent Corrupt Practices Commission, among others are on ground to supervise lodgments and educate depositors on the ramifications involved […]

IMF calls for CBN's 2017 Act review
News

IMF calls for CBN’s 2017 Act review

  The International Monetary Fund has requested that the Central Bank of Nigeria Act 2007 be reviewed in order to increase the bank’s autonomy and governance. IMF made the demand in the latest report titled ‘Nigeria: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Nigeria’. The need for a […]

The snippet of the CBN's registration portal dashboard
Business

Old naira: What to know about CBN’s deposit portal

The Central Bank of Nigeria on Wednesday launched an online portal as one of the measures to ease the hardship caused by the scarcity of new naira notes. The aim of the portal is to redeem the old N1000 and N500 cash still held by Nigerians and facilitate the process of depositing the cash in […]

Banks collect old N500, N1000 despite CBN order
News

Banks collect old N500, N1000 despite CBN order

  Wilson Adekumola Some Commercial Banks on Saturday morning were reportedly collecting old N500 and N1,000 notes from customers despite the Central Bank of Nigeria order. This is came barely 24 hours the Central Bank of Nigeria, in a statement, said that it did not direct banks to collect the old N5,00 and N1,000 notes […]

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