Tag: Godwin Emefiele

List Of 47 Microfinance Banks Licences Revoked By CBN

Echezonam Ibezim Jk

THE Central Bank of Nigeria (CBN) has revoked the operating licences of microfinance banks (MfBs), primary mortgage banks (PMBs) and finance companies as disclosed by the regulatory body in two separate gazettes it released on Tuesday, May 23. The impact of these revocations would affect the larger society, a lecturer at the Department of Finance, University of Lagos, Abu Noruwa, told The ICIR. Before the revocation, the CBN would have found out that the operators were not complying with the rules and regulations, and the owners of the banks could…

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Naira scarcity to ease as banks open Saturday, Sunday

Echezonam Ibezim Jk

The Central Bank of Nigeria, CBN on Friday directed all Commercial banks to open for operation on Saturdays and Sundays as part of a coordinated effort to ease the circulation of banknotes of various denominations. It also confirmed the evacuation of banknotes from its vaults to commercial banks across the country to address the hardship faced by millions of Nigerians  as a result of the scarcity of the naira. Following a meeting between the CBN Governor, Godwin Emefiele, and bank chief executive officers on Wednesday, the apex bank had on…

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INEC Chairman, Mahmood Yakubu, the worst thing to happen to Nigeria – David Ibiyeomie

Echezonam Ibezim Jk

Pastor David Ibiyeomie of Salvation ministries has described the current INEC Chairman Mahmood Yakubu as the worst thing to have happened to Nigerians. Pastor Ibiyeomie made this declaration at one of his church services after recounting the Billions of Naira gulped by the INEC and yet, Mahmood Yakubu compromised the entire system to give Nigerians the worst elections in Africa.   READ ALSO : US shuns Nigeria ahead of African Tour by Kamala Harris     His stray bullet didn’t leave out one of the nightmares of Nigeria as well,…

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CBN directs banks to receive, dispense old naira notes

Echezonam Ibezim Jk

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 the Presidency Monday evening said the CBN had no reason not to comply with the ruling of the Supreme Court on the naira redesign policy. It stated that the President, Major General Muhammadu Buhari (retd.), did…

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Tears, Pains and Frustration as Buhari and Emefiele turn Blind eye (video)

Echezonam Ibezim Jk

Nigerians are currently facing the most painful and stressful economic downturn of their lives, no thanks to President Muhammadu Buhari, CBN Governor, Godwin Emefiele and the APC Governors. Prio to the presidential elections, the APC Governors headed by Governor El-Rufai were with much “super strength” fighting for the policy to be reversed citing the excruciating pains most Nigerians were facing at the various banks across the country in a bid to access their own hard earned currencies. Ordinarily, this would have been translated to them meaning well for Nigerians abi? Wow, the sudden…

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CBN Governor, Emefiele insists of new Naira deadline

Echezonam Ibezim Jk

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 sacrosanct. The CBN Governor Godwin Emefiele  said this on Tuesday during a meeting with members of the diplomatic corps in Abuja. He acknowledged the inconveniences caused by the naira redesign policy including hoarding and an…

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BREAKING: CBN bans dollar charges on domestic transactions

Echezonam Ibezim Jk

The Central Bank of Nigeria, CBN  has banned dollar charges on domestic transactions as it launched has launched the Nigerian National Domestic Card Scheme, AfriGo. This was disclosed by the CBN governor Godwin Emefiele on Thursday, January 26, 2023, while launching the card virtually. Godwin Emefiele said that transaction charges on all cards would henceforth be paid in Naira, except for international transactions. According to him, AfriGo would be cheaper and would be a matter of national pride, with potential to boost financial inclusion.   READ ALSO : U.S. announces visa…

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Emefiele drops another bomb on New cash policy (video)

Echezonam Ibezim Jk

The Central Bank Governor, Godwin Emefiele seems to be out of touch with current reality in Nigeria as he keeps insisting on the 31st January deadline for the old Naira notes. In his press release, Emefiele stated, ” “I don’t have good news for those who feel we should shift the deadline; my apologies The reason is because 90 days should be enough for those who have the old currency to deposit it in the banks…” – Godwin Emefiele (Governor of the Central Bank of Nigeria). "I don't have good news…

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CBN Bans Over-The-Counter Withdrawal Of New Notes

Echezonam Ibezim Jk

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 when the old notes will no longer be legal tender. Saturday PUNCH gathered that the apex bank issued the directive to the banks on Wednesday and ordered that the implementation must begin immediately. However, as of…

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SSS deploys operatives to arrest Godwin Emefiele on sight

Echezonam Ibezim Jk

The State Security Service has started exercising a be-on-the-lookout for Governor Godwin Emefiele of the Central Bank of Nigeria, according to two officials familiar with the matter. Consequently, the domestic intelligence office has deployed several officers to monitor the CBN Headquarters, Mr Emefiele’s family residence in Lagos, and the Abuja home of businessman Christopher Emefiele, unrelated by blood, Peoples Gazette learnt this weekend. An SSS officer familiar with the matter said the deployment came from an assistant director and could not immediately say whether or not Director-General Yusuf Bichi signed…

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