By EMMANUEL KUJE, Abuja – The Inspector-General of Police (I-G), Mr Usman Baba, has ordered full enforcement of the CBN Act, 2007 that criminalises the hawking and selling of naira notes. The Force spokesman, CSP Olumuyiwa Adejobi, said in a statement on Friday in Abuja, that the IGP ordered...
CBN
By EZEKIEL OBI, Abuja – The Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), an umbrella body of Nigerian pastoralists, has urged the Central Bank of Nigeria (CBN) to mainstream the interest of pastoralists in the implementation of cashless policy. It also called on the CBN to extend the...
Some residents of Rivers have decried high charges banks’ money agents popularly called Point Of Salen (POS) operators. Some of the residents who spoke to the News Agency of Nigeria (NAN) on Friday in Port Harcourt,said that they were charged N1,000 to N1,500 to withdraw N10,000 while some said...
By DAVID IORJA, Abuja – Worried by the difficulty experienced by Nigerians in getting the new naira notes, Vice President Yemi Osinbajo, SAN on Friday met with some players in the FinTech space, exploring possible ways of mitigating the hardship. VP Osinbajo urged regulators and the banks to deploy...
By HARUNA AHMED, Sokoto – The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has been asked to resign within 72 hours or face legal action. A group, known as the Concern Citizens of Sokoto State (CCSS) made the call in a letter dated Feb. 2, which...
The All Progressives Congress (APC) Presidential Campaign Council (PCC) says the Central Bank of Nigeria (CBN) naira re-design is ill timed. Mr Bayo Onanuga,Director, Media and Publicity APC PCC said this in a statement on Friday in Abuja. “The naira re-design policy has become a burden too heavy to...
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operators have alleged that bank officials sell cash (both old and new naira notes) to them depending on the amount withdrawn.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...
Mr Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) has directed commercial banks to begin the payment of the redesigned naira notes over the counter. Emefiele gave the directive in a statement posted on the CBN Website on Thursday and signed by the Director, Corporate Communications, Mr Osita Nwanisobi...
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...
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, says President Muhammadu Buhari is not happy over the difficulties citizens are facing in getting the new Naira notes. Ahmed fielded questions from State House correspondents while featuring in the 65th edition of State House briefing on Thursday...
The Central Bank of Nigeria (CBN) on Wednesday advised Nigerians to exchange their old Naira notes at Point of Sale (POS) machines and open Savings account. The CBN Director of Protection, Mrs Rasheedat Mangunu, gave the advice during the monitoring exercise of some POS super-agents in Ilorin. The News...
The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, has urged lawmakers and Nigerians to show understanding, adding that the apex bank was out to combat the incidence of insecurity in the country. Emefele made the call in Abuja on Tuesday before the House of Representatives’ fact finding...
The Central Bank of Nigeria (CBN), Bauchi State, says it allocates N30 million new naira notes daily to each branch of banks in the state to increase access of customers to the new notes. Mr Abdulkadir Jibrin, an official of the apex bank, said this while monitoring banks in...
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...
The Majority Leader of the House of Representatives, Alhassan Ado Doguwa has expressed suspicion that the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele “misled” President Muhammadu Buhari on the redesign of the N200, N500, N1,000 bank notes. Doguwa, who is a member of the All Progressives...
Some Nigerians have expressed relief as the Central Bank of Nigeria (CBN) announced a 10-day extension to the Jan. 31 deadline to change their old Naira notes. The News Agency of Nigeria (NAN) reports that the extension was announced on Sunday by the CBN Governor Mr Godwin Emefiele in...
The scarcity of the redesigned naira notes and the fact that traders and business owners are rejecting the old notes, have forced many residents to adopt cashless transactions in Awka, Anambra. The News Agency of Nigeria (NAN) reports that the Central Bank of Nigeria (CBN) has fixed Jan. 31...
Barely three days to Jan. 31 deadline for old naira exchange, the Central Bank of Nigeria (CBN) has engaged 200 agents to fast track its cash swap policy in Jigawa. The CBN on Monday embarked on currency swap programme in rural communities as part of plans to phase out...