By DAVID IORJA, Abuja – President Muhammadu Buhari on Wednesday in Abuja launched the new Naira banknotes, expressing delight that the redesigned currencies are locally produced by the Nigerian Security Printing and Minting (NSPM) PLC. Speaking at the launch of the new banknotes, which preceded the Federal Executive Council...
CBN
President Muhammadu Buhari has unveiled the redesigned naira notes of N200, N500 and N1000 at the Council Chamber of the Presidential Villa Abuja on Wednesday. The News Agency of Nigeria (NAN) reports the unveiling of the naira notes preceded the virtual meeting of the Federal Executive Council (FEC) with...
By MBAFAN ADE, Abuja – Nigerian banks have announced modifications to their operating hours in order to assist Nigerians holding soon-to-expire Naira currencies. This is just as the Central Bank of Nigeria (CBN), has instructed commercial banks in the country to work on Saturdays till Jan. 31, 2023, to...
The Central Bank of Nigeria (CBN) has instructed commercial banks in the country to work on Saturdays till Jan. 31, 2023, to enable bank customers return old naira notes for new ones. Mr Osita Nwasinobi, the Director, Corporate Communications Department of the apex bank, stated this at the CBN...
The Rice Farmers Association of Nigeria (RIFAN), has signed a Memorandum of Understanding (MoU) with Tiamin Rice company for processing and sale of rice locally and internationally. This is contained in a statement issued by the Deputy Managing Director of Tiamin Rice Company, Mr Aliyu Ibrahim in Abuja. Aliyu...
Senate has mandated its Committee on Banking, Insurance and other financial institutions to embark on an aggressive oversight to ensure Nigerians are adequately protected from operations of CBN, banks on implementation of the naira redesign policy. Senate resolution was sequel to a motion passed at plenary on Wednesday”on the...
President Muhammadu Buhari on Wednesday said he met with His Royal Majesty, King Charles III in Buckingham Palace to foster Nigeria’s bilateral relationship with the United Kingdom. In an interview after meeting the 73-year-old monarch, Buhari said King Charles III asked him whether he has a house in the...
The Association of Bureaux Des Change Operators of Nigeria (ABCON) says Naira has continued to firm against the Dollar at the parallel market as date for CBN new currency introduction draws closer. Alhaji Aminu Gwadabe, President, (ABCON), said this in an interview with the News Agency of Nigeria (NAN)...
A broken down truck loaded with N1,000 notes has been spotted on social media and alleged to have emanated from the Northern part of the country as people are seen speaking in Hausa. The development comes in the wake of plans by the Central Bank of Nigeria (CBN), to...
By JOY ADARA, Abuja – MTN, Airtel, as well as money deposit banks in Nigeria have been appointed by the Federal Inland Revenue Service (FIRS) to withhold Value Added Tax (VAT) charged on all taxable supplies made to them, and remit to the Service. This is contained in a...
Some bank customers of various banks in the country have lamented the increasing spate of illegal withdrawals from their accounts. Some of the customers who were victims of the act said this in an interview with the News Agency of Nigeria (NAN) in Abuja on Monday. They described the...
Nigeria’s currency continues to fall under President Muhammadu Buhari’s regime, tumbling to a new low of N1005 against the British pound sterling on the parallel exchange platform Aboki Forex on Saturday. It’s revealed that the naira traded at N1005 against the British Pounds Sterling and N890 to a dollar....
The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, on Friday, criticised the planned redesign of the N200, N500, and N1,000 banknotes by the Central Bank of Nigeria (CBN). The revered cleric expressed displeasure that the Federal Government is concerned with the redesigning of...
By OLA MUDOPE, Lagos – Emirates Airline on Thursday announced the suspension of its flights to Nigeria indefinitely due to its trapped funds in the country The airline said it took the decision because it is yet to get its allocation from the $260m the Central Bank of Nigeria (CBN)...
By DAVID IORJA, Abuja – President Muhammadu Buhari on Sunday said that the decision of the Central Bank of Nigeria (CBN) to launch new designs and replace high value Naira notes had his support and is convinced that the nation will gain a lot by doing so. The President...
The Central Bank of Nigeria (CBN), may have since announced that the naira notes of 200, 500 and 1,000 would be redesigned for some reasons, but it is the Nigerian Security Printing and Minting Company (NSPMC), a government-owned banknote printer and mint that will see the action through. Founded...
The Central Bank of Nigeria (CBN) says it followed due process in its decision to redesign some denominations of the naira, adding that the exercise was 12 years overdue. The apex bank made this known via its verified twitter account on Saturday, urging Nigerians to support the measure as...
The former Deputy Governor of the Central Bank of Nigeria (CBN), Prof. Kingsley Moghalu, has commended the apex bank on the proposed redesigning of the Naira. Moghalu, a Nigerian Political Economist who gave the commendation in a statement on Saturday in Lagos, advocated a 90-day window for implementation. He...
The Naira on Friday exchanged at N444.75 to the dollar at the Investors and Exporters window, a depreciation of 0.06 per cent, compared with N444.50 to the dollar it exchanged on Thursday. The open indicative rate closed at N443 to the dollar on Friday. An exchange rate of N447...
The Federal Ministry of Finance, Budget and National Planning said the ministry was not consulted on the new monetary policy announced by the CBN to redesign N200, N500 and N1000 naira notes with effect from Dec 15. Minister of Finance, Mrs Zainab Ahmed, said this in Abuja on Friday,...