Despite public complaints against the deadline set by the Central Bank of Nigeria (CBN) on full withdrawal of old N200, N500 and N1,000 notes from circulation, the apex bank on Friday launched a countdown to the January 31 deadline when the old notes will cease to be legal tender. The apex bank while unveiling the […]
The Federal Government has assured the public of its readiness to act on the recommendations that may be submitted by the panel currently investigating the the N89 trillion Stamp Duty proceeds allegedly stolen from the Central Bank of Nigeria (CBN) accounts. A House of Representatives member, Hon. Muhammed Kazaure, had on December 14, 2022 raised […]
…..Says Banks Have Taken Delivery Of New Notes The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, said that over N1 trillion had been deposited in the banks by bank customers since the introduction of the new Naira notes redesign measure by the apex bank. Emefiele, who made this disclosure […]
The Central Bank of Nigeria (CBN) on Tuesday announced a new policy requiring deposit money banks (DMBs) and other financial institutions to ensure that over-the-counter cash withdrawals by individuals and corporate entities do not exceed N100, 000 and N500, 000 per week respectively. The revised cash withdrawal limit, which was contained in a circular issued […]
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has disclosed that the apex bank had paid N81 billion in rebates to Nigerian exporters to support their export-oriented businesses as a monetary policy step towards improving the nation’s foreign exchange earnings. Emefiele made this disclosure on Tuesday in his keynote address at […]
….Old Notes’ Legality Deadline Remains Sacrosanct – CBN President Muhammadu Buhari on Wednesday unveiled the redesigned N200, N500 and N1,000 Notes shortly before the weekly Federal Executive Council (FEC) meeting at the Presidential Villa in Abuja. The launching of the new Notes came barely 24 hours after the Central Bank of Nigeria (CBN) told […]
…..Says Buhari Will Launch New Naira Notes Wednesday The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday raised the Monetary Policy Rate (MPR), the benchmark interest rate, by 100 basis points to 16.5%, at the end of its two-day meeting in Abuja. The latest MPR is the highest lending […]
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, said that the apex bank planned to reduce the volume of N500 and N1000 notes in circulation “over time” as part of its moves to tame the spiking inflation in the economy. The governor, who spoke on the move while responding to questions about […]
The Central Bank of Nigeria (CBN) has launched a countdown clock on its website indicating when the old Naira notes will cease to be a legal tender. The countdown clock shows that January 31, 2023, remained the deadline for the N200, N500, and N1,000 notes to “remain legal tenders.” It would be recalled that the apex bank […]
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, on Wednesday disclosed that transactions on the e-Naira platform has risen to N8 billion even as he stressed the economic benefits of the digital currency to Nigeria’s sustainable growth. Emefiele, who made this disclosure in his address delivered at the 28th Annual Executive […]