Lagos State residents on Tuesday began to accept the old N200, N500 and N1,000 banknotes for transactions, following a validation from the Central Bank of Nigeria (CBN) to do so. The News Agency of Nigeria (NAN) reports that the CBN in a statement signed by its acting Director, Corporate...
Banks
Some traders in Sango-Ota, Ogun, on Monday, appealed to the Central Bank of Nigeria (CBN) to make concerted efforts to address the lingering cash crunch in Deposit Money banks to prevent total collapse of economic activities. They expressed their views in separate interviews with the News Agency of Nigeria...
By SADIQ ABUBAKAR, Maiduguri – Except for those with verifiable constraints such as lacking supplies from the CBN, Borno State Governor, Babagana Zulum has directed that any bank which refuses to dispense new naira notes via Automated Teller Machines (ATMs) and banking halls should have its land revoked by...
President Muhammadu Buhari says he will interrogate the Central Bank of Nigeria (CBN) and other government agencies involved in the printing and distribution of new Naira notes in the country. Malam Garba Shehu, the Senior Special Assistant to the President on Media and Publicity in a statement, said the...
By OLA MUDOPE, Ibadan – The Oyo State Police Police Command has uncovered plans by hoodlums to attack and loot banks, shopping mails, INEC offices and other facilities in the state. The Police Public Relations Officer, SP Adewale Osifeso, disclosed this in a statement issued on Friday in Ibadan....
The Central Bank of Nigeria (CBN) has deployed agents to some commercial banks premises in Lafia, Nasarawa State to facilitate its new naira swap policy. Mr Atiku Muhammed-Nasir, Director, Security Service of the apex bank, told newsmen on Friday in Lafia that the measure was to help decongest the...
Some Point of Sale (PoS) operators have alleged that bank officials sell cash (both old and new naira notes) to them depending on the amount withdrawn. Some of the operators who spoke to the News Agency of Nigeria (NAN) in Abuja on Friday, said they paid exorbitant amounts to...
Scarcity of cash has crippled Point of Sales (POS) centres in the Federal Capital Territory (FCT) while the few operators with cash now charge between N200 and N300 per N1,000. A correspondent of the News Agency of Nigeria (NAN) who went round Kuje Area Council in the FCT on...
Some Lagos residents have expressed their frustration and anger as they spend hours on long queues without being able to withdraw cash via Automated Teller Machines (ATMs). A NAN correspondent who monitored the development at some banks around Airport Road, Ikotun, Surulere, Ejigbo and Oshodi-Isolo axis, reported that people...
By EZEKIEL OBI, Abuja – The Muslim Rights Concern ( MURIC) has urged the Central Bank of Nigeria (CBN) to extend the Jan. 31 deadline for expiration of old naira notes by at least two weeks. MURIC said this in a statement by Malam Muhammad Aliyu of its Sokoto...
The Nigerian Exchange Ltd., (NGX) recorded another positive performance on Friday, with a gain of N84.65 billion market capitalisation closing at N26.994 trillion from N26.909 trillion on Thursday. Also, the All-Share Index (ASI) increased by 156.03 points or 0.31 per cent to close at 50,045.83 from 49,889.80 recorded on...
The Central Bank has fined four banks for flouting its directive on cryptocurrency transactions. The CBN had in February 2021 ordered all banks to close accounts of anyone who transacts in cryptocurrency. According to the CBN, dealing in cryptocurrency or facilitating payments for cryptocurrency exchanges is prohibited. In a...