In spite of scarcity of the redesigned Naira notes in circulation, some smart hawkers have been seen hawking the new notes at Dadi Motor Park, Sabon Gari-Zaria, Kaduna State, at exorbitant prices. The News Agency of Nigeria (NAN) saw large wads of different denominations of the notes on display...
CBN
By SADIQ ABUBAKAR, Maiduguri – Borno State Governor, Babagana Zulum on Thursday visited Rann, headquarters of Kala-Balge Local Government in the Borno Central Senatorial District by helicopter, where he supervised the disbursement of redesigned new naira notes to over 12,000 returnee IDPs. According to the Governor, the intervention was...
Some Point of Sale (PoS) operators in satellite towns of the Federal Capital Territory (FCT) are making brisk business with the new naira notes. The News Agency of Nigeria (NAN) reports that the Central Bank of Nigeria (CBN0 has fixed Jan. 31 as the deadline for the use of...
Operators of Commercial Banks in the country have countered the Central Bank of Nigeria (CBN) over claims that the commercial banks have enough naira notes in their kitty but hoarding them. The banks countered the CBN when their officials appeared before the House of Representatives ad hoc committee investigating...
By SADIQ ABUBAKAR, Maiduguri – Borno State Governor, Babagana Zulum, has directed the State Ministry of Finance and The Ministry of Higher Education, Science, Technology and Innovation to liaise with the state owned Microfinance bank, Renaissance Microfinance Bank Limited, as a matter of urgency to ensure free collection of...
Bank customers in Benin, have decried scarcity of the new Naira notes at Automated Teller Machines (ATMs) as well as Point of Sales (POS). The News Agency of Nigeria (NAN) recalls that the Central Bank of Nigeria CBN), had announced Jan. 31, 2023 as deadline for the use as...
Gov. Samuel Ortom of Benue, has called on the Central Bank of Nigeria (CBN) to extend the deadline of the use of the old naira notes, especially for those in the rural areas. Ortom made his feelings known when the Governing Council and Management of the Joseph Sarwuan Tarka...
Nigerian traders in Adamawa State have stopped business transactions with the old Naira notes of N1,000, N500 and N200 ahead of the official deadline of Jan. 31. Some of the traders confirmed this to the News Agency of Nigeria (NAN) on Wednesday in Yola. They expressed difficulties in getting...
The Nigeria Deposit Insurance Corporation (NDIC) has called on depositors of Unyogba Microfinance Bank in-liquidation to come forward for their verification and payment of their insured deposits. The corporation on its Twitter handle on Wednesday said the bank was located in Kogi. The NDIC said the exercise would commence...
The Association of Bureaux De Change Operators of Nigeria (ABCON), says that the naira redesign policy of the CBN has fuelled the stability of the naira at the parallel market. Alhaji Aminu Gwadabe, President ABCON, stated this in an interview with the News Agency of Nigeria (NAN) on Sunday...
Some bank customers have decried scarcity of the redesigned N1,000, N500 and N200 notes in Deposit Money Banks (DMBs) and Other Financial Institutions (OFIs). This is coming barely nine days to the Jan. 31 deadline to stop the use of the old notes of the redesigned denominations as legal...
The Central Bank of Nigeria (CBN) has enlisted the support of the Olubadan of Ibadanland, Oba Lekan Balogun and Olubadan-in-Council, on the advocacy of the newly designed naira notes in Ibadan. Mrs Olufolake Ogundero, the CBN Ibadan Branch Controller, said this after an advocacy visit to the Olubadan on...
By JOY ADARA, Abuja – In furtherance of its Naira Redesign policy and in recognition of the need to maximise the channels through which underserved and rural communities can exchange their Naira, the Central Bank of Nigeria (CBN) has launched a Cash Swap programme in partnership with Super Agents...
The Nigeria Governors’ Forum (NGF) has set up a six- member committee to engage the Central Bank of Nigeria (CBN) to address anomalies in the country’s monetary management and financial system. The forum disclosed this in a communique issued on Saturday at the end of its virtual meeting held...
By PATRICK ABANG, Calabar – The Central Bank of Nigeria (CBN) has threatened to sanction erring banks who are still dispensing old naira notes through the Automated Teller Machine (ATM). The CBN Branch Controller in Cross River State, Ms. Glory Iniunam gave the warning in Calabar during a sensitization...
The Centra Bank of Nigeria (CBN) says that banks would work on Saturdays to receive the old Naira notes from customers. Mr Kama Ukpai, Leader of the CBN team to Ebonyi on new Naira notes, disclosed this on Friday during its enlightenment campaign on traders at the Eke Market,...
The Central Bank of Nigeria (CBN) has advised market traders and business operators in Kwara to embrace use of Point of Sale (POS) machines for transaction to beat the old Naira notes submission deadline rush. The CBN, Ilorin Branch Controller, Mr Najim Lamidi, gave the advice at the Day...
The Central Bank of Nigeria (CBN) on Friday in Abuja allayed the fears of rural dwellers at accessing the new naira notes before they cease to become legal tender on Jan. 31. It stated that it would launch a cash swap programme in rural and underserved areas of the...
The Central Bank of Nigeria (CBN) has begun monitoring Commercial Banks and their Automated Teller Machines (ATMs) in Bauchi, to ensure the dispensation of new Naira notes to customers in the state. The News Agency of Nigeria (NAN) reports that CBN Officials monitored all the banks in Bauchi metropolis...
The Central Bank of Nigeria (CBN) on Thursday vowed to sanction any commercial bank found hoarding the new naira notes because it had produced enough for distribution to all the banks across the country. The CBN Kano Branch Controller, Alhaji Umar Biu, made the remark during a sensitisation on...