The Central Bank of Nigeria (CBN) has charged Nigerians to ensure they deposit the old N200, N500 and N1000 notes in their various banks before the Jan. 31 deadline. Mrs Olufolake Ogundero, the CBN Branch Controller in Oyo State, gave the charge on Thursday during the sensitisation programme held...
CBN
Military Pensions Board (MPB) says the delay in the receipt of payment of Security Debarment Allowance (SDA) by eligible military retirees was due to hitches between the Central Bank of Nigeria (CBN) and disbursing banks. The Chairman of the board, Rear Adm. Saburi Lawal, made this known in a...
Point of Sale operators (PoS) and traders in Lagos have appealed to the Central Bank of Nigeria (CBN) and telecoms companies to ensure interrupted service. The stakeholders made the observation in separate interviews with the News Agency of Nigeria (NAN) on Thursday in Lagos. According to them, it is...
The Central Bank of Nigeria (CBN) has assured marketers and traders that it has made the redesigned naira notes (1000, 500, 200) available for them via Automated Teller Machines (ATMs). The Branch Controller, CBN, Lagos State, Mr Koyor Baribokola, gave the assurance when the apex bank took its sensitisation...
The Central Bank of Nigeria (CBN) will monitoring commercial banks to ensure that they comply with the directive of loading the redesigned Naira notes in their Automated Teller Machines (ATMs). CBN Director, Currency Operations, Mr Ahmed Umar, made this known in Abuja on Monday at the Training Session for...
The Nigerian Security Printing and Minting (NSPM) Plc, the company responsible for producing Nigeria’s currency, has explained why the new Naira notes leave ink when rubbed on plain white. The company in a statement signed by the Managing Director, Ahmed Halilu highlighted this when addressing concerns by Nigerians on...
In the past few days the media has been awash with news about the huge debt burden that the incoming government in May 29, would inherit from the President Muhammadu Buhari administration. This is coming as President Muhammadu Buhari signed the 2023 budget of 21.83 trillion Naira into law...
The Nigeria Financial Intelligence Unit (NFIU) has warned the public and private entities against massive cash withdrawals. The Director and Chief Executive Officer of the agency, Mr Modibbo HammanTukur, gave the advisory in a statement made available to newsmen in Abuja on Thursday. He spoke on the state of...
Some residents of Ilorin have called on the Central Bank of Nigeria (CBN) to avail the redesigned Naira notes to the general public to avoid confusion. They expressed concern over the non-availability of the new Naira notes in circulation, which they claimed they were not aware of its existence....
The spokesperson of the Atiku/Okowa Campaign Organisation, Daniel Bwala, has accused the All Progressives Congress (APC) of trying to frustrate the cashless policy introduced by the Central Bank of Nigeria to engage in vote buying in the 2023 election. The Senate on Thursday urged the CBN to extend its...
The Senate has urged the Central Bank of Nigeria (CBN) to urgently extend the withdrawal date of old currency notes from Jan. 31, 2023 to June 31. The upper chamber’s resolution was sequel to a point of order raised by Sen. Mohammed Ndume (APC-Borno) during Wednesday’s plenary. The News...
The Central Bank of Nigeria (CBN) says its policy of cash withdrawal limit is not based on politics, contrary to insinuations. Mrs Aisha Ahmad, the Deputy Governor, CBN, said this in Abuja on Thursday when she answered questions from lawmakers at the House of Representatives during plenary. Ahmad, who...
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN), announced on Wednesday a review of its policy on cash withdrawal limits, which had attracted outcry from segments of the society. In a circular addressed to all Deposit Money Banks (DMBS) and other Financial Institutions (Payment Service Banks (PSBSs),...
The Independent National Electoral Commission (INEC) has tasked Nigerians to reject possible inducements by money bags trying to buy their votes in 2023 general election. The INEC Chairman, Prof. Mahmood Yakubu, said this at a day stakeholders’ summit on addressing the influence of money in 2023 general election on...
The Nigerian Postal Service, NIPOST, has distanced itself from revenue collected on it behalf by Central.Bank of Nigeria (CBN) and other commercial banks in the name of stamp duty. Meanwhile, PRNigeria gathered that the management and staff of NIPOST were furious when their organisation was mentioned in the alleged...
The Central Bank of Nigeria (CBN) has countered claims that its new policy limiting cash withdrawals is targeted at point-of-sales (PoS) agents in particular. Though the apex bank, on December 6, set the weekly withdrawal limit at N100,000 and N500,000 for persons and organisations, respectively, it made allowances for...
Some experts have advised the Central Bank of Nigeria (CBN) to review its monetary policy tools in order to tame the rising inflation. Dr Muda Yusuf, founder, Centre for the Promotion of Private Enterprises (CPPE), advised the CBN to resist the urge to further tighten the country’s monetary policy...
Economists have urged the Central Bank of Nigeria (CBN) to take firm control of the quantity of the redesigned naira notes it would release into circulation to avoid hoarding and counterfeiting. The experts gave the advice in separate interviews with the News Agency of Nigeria (NAN), ahead of the...
After a delayed plenary on Wednesday, the Senate asked the Central Bank of Nigeria (CBN) to considerably adjust its recently announced cash withdrawal limits in response to the public outcry against the new policy. The upper chamber, in its resolution, also asked its Committee on Banking and Finance to...
Financial experts have backed the review of the Central Bank of Nigeria (CBN) proposed cash withdrawal limit policy for individuals and corporates. They said this in separate interviews with the News Agency of Nigeria (NAN) on Wednesday in Lagos. NAN reports that the experts spoke against the background of...