Commercial banks in the Federal Capital Territory (FCT), have started issuing the old Naira notes to customers. The News Agency of Nigeria (NAN) checks at some banks in Abuja on Wednesday, revealed that customers thronged banks to collect the notes while some rejected them. Mr Ifeanyi Udenna, a customer...
CBN
The Central Bank of Nigeria (CBN) issued operational guidelines for open banking in Nigeria on Wednesday. The News Agency of Nigeria (NAN) reports that the guidelines establish principles for data sharing across banking and payment systems. In the guidelines, the CBN shall provide and maintain an Open Banking Registry...
The Central Bank of Nigeria (CBN) has been warned against the consequences of disregarding the Supreme Court’s judgment directing that the old naira notes should co-exist with the new one until Dec. 31. Mr Seun Abimbola, a former Attorney-General and Commissioner for Justice in Oyo State, gave the warning...
Some traders and marketers in Lagos have said they would accept the old denominated naira notes of N500 and N1,000, only when President Muhammadu Buhari gives the order. The people told the News Agency of Nigeria (NAN) in separate interviews that they were being careful and at the same...
Nigerians are yet to access the new and old Naira notes days after the Supreme Court order reverting the Central Bank of Nigeria (CBN) directive to stop its use as legal tender from Feb. 10. The News Agency of Nigeria (NAN) reports that Deposit Money Banks (DMBs) in Abuja...
By OLA MUDOPE, Lagos – FirstBank of Nigeria Ltd., has appointed Mr. Oluseyi Oyefeso as Executive Director, Retail Banking in charged of the South. The bank in a statement on Monday in Lagos, said his appointment, which took effect on March 2, 2023, was subject to the Central Bank...
Aliyu Mukadas, a witness in the trial of ex-Minister of State for Finance, Amb. Bashir Yuguda and four others, on Monday told an FCT High Court, Maitama, that the operations of the Office of the National Security Adviser (ONSA) were always covert. Others defendants in the trial are retired...
The Central Bank of Nigeria (CBN) says it remains committed to its developmental mandate of stimulating access to finance for the real sector, disclosing that total repayments as of the end of February 2023 under the Anchor Borrowers’ Programme (ABP) stood at N0.503 trillion, representing 52.39 per cent, adding...
Business operators in the Federal Capital Territory (FCT) Abuja say they are anxious to hear from President Muhammadu Buhari and/or the Central Bank over validity of old Naira notes. The business operators were reacting to the Supreme Court ruling that the old N500 and N1000 notes remained legal tender...
By JOY ADARA, Abuja – The Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to reveal plans his administration is taking to obey the recent Supreme Court order on the naira redesign. Last week, the Supreme Court extended the validity of the old N200, N500, and...
By OLA MODUPE, Lagos – Following the invalidation of the restrictions on the old Naira notes under the Naira redesign policy by the Supreme Court on Friday, The Human and Environmental Development Agenda (HEDA Resource Centre) has charged the Central Bank of Nigeria and the Economic Financial Crime Commission...
Stakeholders in the energy sector have expressed divergent views on the Supreme Court judgment over extension of the use of old Naira notes till Dec. 31. They expressed their different views in separate interviews with the News Agency of Nigeria (NAN) on Saturday in Lagos. NAN reports that the...
Alhaji Sani Abdullahi Shinkafi, chieftain of the All Progressives Congress (APC) in Zamfara, has urged the Federal Government to respect the Supreme Court judgment and allow Nigerians to use the old Naira notes concurrently with the redesigned notes. Shinkafi, who made the appeal while addressing newsmen in Gusau on...
The governor of Kogi State, Yahaya Bello, has blamed those he referred to as inherited Peoples Democratic Party (PDP) members in the All Progressives Congress (APC) for ‘misleading’ President Muhammadu Buhari on the naira redesign policy. The Supreme Court on Friday ordered that old N200, N500, and N1,000 notes...
By JOY ADARA, Abuja – The Central Bank of Nigeria (CBN) has debunked a misleading report misquoting the Governor, Mr. Godwin Emefiele, as attributing the current challenge in the distribution of the newly redesigned naira banknotes to a shortage of printing materials at the Nigerian Security Printing and Minting...
The Amalgamated Union of Northern Traders, on Saturday in Sokoto lauded the directives given by Gov. Bello Mutawalle of Zamfara state, for security men to arrest anybody who rejects the old naira notes during transaction. The News Agency of Nigeria (NAN) reports that Gov. Mutawalle was among the Governors...
Residents of Enugu on Saturday started rejecting the old naira notes for transactions, the News Agency of Nigeria (NAN) has reported. NAN investigation shows that many residents who are still holding the old naira notes are finding it difficult to spend them. Mr George Nweze, a resident of Awkunanaw...
Niger Government has filed a lawsuit against the Federal Government over the naira redesign policy of the Central Bank of Nigeria (CBN) at the Supreme Court. A statement by Justice Nasara Danmallam, the Attorney General and Commissioner for Justice, in Niger in Minna on Saturday, said the case with...
The Council of State has advised President Muhammadu Buhari to direct the Central Bank of Nigeria (CBN) to print more redesigned naira notes or allow the new and old banknotes to circulate concurrently to ease the tension caused by the scarcity of cash. The Council approved the naira redesign...
The Central Bank of Nigeria (CBN) has attributed hoarding of the new Naira notes as being responsible for its scarcity, and not that small quantity was issued out. The CBN Director, Consumer Protection, Mrs Rashidat Mongunu, said this on Thursday while monitoring microfinance banks in Offa, Offa Local Government...