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Tag: New Naira

Police storm Emefiele's Abuja residence
Economy

New naira: No reason to shift Jan 31 deadline, says CBN

Oluwanifemi Ojo   The governor of Central Bank of Nigeria has again stated that the deadline for phasing out the old note remains January 31.   This was said in a video from the just concluded Monetary Policy Committee held on Saturday. The video was posted on the verified Twitter page of CBN stating that […]

New naira note: CBN insist on January 31st deadline
Economy

New naira: Buhari assures Nigerians of speedy circulation

The President, Major General Muhammadu Buhari (Ret’d.), has assured that the government will ensure that citizens are unharmed in their businesses and no disruption is caused to the entire supply chain arising from the imminent deadline of the new naira swap.   Buhari gave this assurance in a statement issued by the Senior Special Assistant […]

New naira note: CBN insist on January 31st deadline
Banking

We’re not hoarding new naira, banks debunk CBN’s claims

Oluwanifemi Ojo   Commercial bank operators in Nigeria have disputed assertions made by the Central Bank of Nigeria that they are hoarding naira notes despite having enough supply.   The claims of the Central Bank of Nigeria were countered by the officials of commercial banks that appeared before the ad hoc committee of the House […]

Senate ask CBN to extend deadline of new naira note
Banking

Extend old, new naira deadline, NLC urges CBN

Wilson Adekumola     President of the Nigeria Labour Congress, Comrade Ayuba Wabba, on Thursday, has urged the Governor of Central Bank of Nigeria, Godwin Emefiele to extend the date for the expiration of old naira notes adding that it would affect the lives of people in the rural areas.   Comrade Wabba made this […]

Senate ask CBN to extend deadline of new naira note
featured

Senate ask CBN to extend deadline of new naira note

Juliet Buna   The Senate has once again asked the Central Bank of Nigeria to extend the deadline for the stoppage of the use of old naira notes from January 31 till July 31, 2023. According to Channels TV, The lawmakers also lamented the hardship the policy is causing Nigerians as they said there are […]

CBN fines banks N1m daily over refusal of new naira
Banking

New naira: 50% unbanked Nigerians may lose savings, says report

Oluwanifemi Ojo   A new report by the Inclusion for all Initiative predicts that over 50 percent of Nigerians without access to banking services could lose their savings as the deadline for the naira exchange announced by the Central Bank of Nigeria approaches.   The CBN Governor Godwin Emefiele, announced the introduction of the new […]

New naira note: CBN insist on January 31st deadline
Business

New naira: Customers flood Kebbi bank one week to CBN deadline

  As the deadline for the use of old naira notes draws closer, some customers in Birnin Kebbi, Kebbi State capital, on Monday, flocked to banks to deposit or withdraw cash and voiced concerns about the new naira notes’ limited availability. According to The Punch, many customers complained that they have been there for more than […]

New naira note: CBN insist on January 31st deadline
featured

CBN takes new naira awareness to Calabar markets

The Central Bank of Nigeria has expanded its awareness-raising effort to key markets in the Calabar city in advance of the January 31, 2023 deadline for the usage of obsolete Naira notes. The effort to raise awareness was organized by Branch Controller for CBN Calabar, Glory Iniunam. She clarified that the purpose of the activity […]

Senate ask CBN to extend deadline of new naira note
Uncategorized

We are not against Naira redesign – Govs

The 36 states governors of Nigeria has called on the Central Bank of Nigeria (CBN) to effect the changes in its naira redesign policy to address the differences in various states. “Governors are not opposed to the objectives of the naira redesign policy, but observed that there are huge challenges that remain problematic to the […]

Kogi residents lament scarcity of new naira note
Economy

New naira notes’ll enhance Nigeria’s economy – CBN

    The Central Bank of Nigeria emphasised on the economic benefit of the new note as sensitisation intensifies following the closeness of the deadline to phase out the old notes draw near. The CBN has mobilised members of the team to Shasha Market, in Akure North Local Government Area of Ondo State to enlighten […]

Monarchs begs CBN to extend old naira deadline
News

CBN permits DMBs to swap new, old naira notes across LGAs

  The Central Bank of Nigeria has permitted Deposit Money Banks, Money Operators, and super agents to swap the old notes in local government areas to accelerate circulation of the new notes. This strategy would increase the availability of new notes and ensure that people don’t lose their money. This was stated in a circular […]