Nigerian lawmakers are seeking to limit the central bank’s control over economic policy by proposing to set up a committee to coordinate monetary and fiscal policies, headed by the finance minister, according to a bill in the Senate. The proposal by a member of the ruling party comes as inflation in Africa’s most populous nation
CBN directs banks to receive, dispense old naira notes
The Central Bank of Nigeria has directed commercial banks to dispense and receive old naira notes as legal tender across the country. The CBN gave the directive at a Bankers’ Committee meeting held on Sunday, according to a statement by the acting Director, CBN Corporate Communications, Isa AbdulMumin, on Monday. This is coming hours after
BREAKING : CBN limits weekly cash withdrawal to N100k
The Central Bank of Nigeria, CBN has set fresh cash withdrawal limits for individuals and organisations with effect from January 9, 2023. Individuals will only be able to withdraw N100,000 per week ( from over the counter, Point of Sale Machines or the Automated Teller Machines), while organisations can withdraw N500,000 per week. This is according