the hub of entertainment….
The Supreme Court of Nigeria has adjourned the case on the naira swap policy of the Central Bank of Nigeria (CBN) till Wednesday, February 22 for hearing of the consolidated suits by 10 states. The apex court, which heard the case on Wednesday, was filled to capacity with a retinue of Senior Advocates of Nigeria,
The Central Bank of Nigeria, CBN says there is no going back on the February 10, 2023 deadline for the swapping of the old N1,000, N500, and N200 notes. While there has been controversy over the deadline with some governors dragging the apex bank to the Supreme Court, the CBN maintained that the deadline remains
Civil society group, ActionAid Nigeria, has called on the Central Bank of Nigeria and the Federal Government to proffer permanent solutions to the naira and fuel scarcity crises in the country. The group made the call in a statement signed on Monday by its Country Director, Ene Obi. Obi said Nigerians were going through multiple
The leading presidential candidate, Peter Gregory Obi has reacted to the recent money redesign brouhaha and call for extension of deadline by the APC Governors. See his statements below… The currency redesign is not peculiar to Nigeria. It is an exercise that comes with some inconvenience and pain but it has significant longterm economic and social benefits.
The Central Bank of Nigeria (CBN) has directed commercial banks to begin the payment of the new naira notes to customers over the counter, Channels Television reported. The CBN however, set the maximum daily payout at N20,000. This is according to a Thursday statement signed by the Bank’s Director, Corporate Communications Osita Nwanisobi. The directive
The Central Bank of Nigeria, CBN, has named about five money deposit banks to participate in its cash swap initiative. The development comes as the deadline for the expiration of old N200, N500 and N1,000 notes as legal tender approaches. Lagos and Abuja PoS operators left out of cash swap programme The information was contained in
CBN Governor, Godwin Emefiele, announced the extension in a statement signed on Sunday. He explained that the apex bank has sought approval from President Muhammadu Buhari to extend the deadline for the use of the old notes by 10 days. “Based on the foregoing, we have sought and obtained Mr President’s approval for the following:
With three days to the January 31 deadline for Nigerians to swap their old naira notes to the redesigned ones, long queues have persisted at Automated Teller Machines and Banks in Taraba State. This is as shop owners, tricycle riders and small business owners have started rejecting the old notes as the Central Bank of
The Central Bank of Nigeria, CBN has ordered Deposit Money Banks not to pay customers making over-the-counter withdrawals of new naira notes again. Instead, the apex bank directed the banks to load their Automated Teller Machines with only new notes to ensure that the currency circulates across the nation ahead of the January 31, 2023 deadline
As CBN unveiled new naira notes,it was only callous that more damaged naira notes are still being discovered in some places in Nigeria. I can’t seem to understand this level of wickedness that some people would stack so much money and couldn’t spend it or dash it out. This is sickening to say the least. Watch