The Central Bank of Nigeria (CBN) will monitoring commercial banks to ensure that they comply with the directive of loading the redesigned Naira notes in their Automated Teller Machines (ATMs). CBN Director, Currency Operations, Mr Ahmed Umar, made this known in Abuja on Monday at the Training Session for...
naira redesign
The Central Bank of Nigeria (CBN) says its policy of cash withdrawal limit is not based on politics, contrary to insinuations. Mrs Aisha Ahmad, the Deputy Governor, CBN, said this in Abuja on Thursday when she answered questions from lawmakers at the House of Representatives during plenary. Ahmad, who...
The Independent National Electoral Commission (INEC) has tasked Nigerians to reject possible inducements by money bags trying to buy their votes in 2023 general election. The INEC Chairman, Prof. Mahmood Yakubu, said this at a day stakeholders’ summit on addressing the influence of money in 2023 general election on...
The Central Bank of Nigeria (CBN) has announced a revision of weekly cash withdrawal limit to N100,000 for individuals and N500,000 for corporate organisations. According to a memo by Haruna Mustapha, CBN’s Director of Banking Supervision, this is sequel to the official launch of the redesigned naira notes by...
The Central Bank of Nigeria (CBN) says it has no plan to introduce N5,000 denominated bank note as being speculated by some sections of the society. Ahmed Umar, the Director, Currency Operations of CBN clarified this at a three-day workshop organised by the Nigeria Deposit Insurance Corporation (NDIC), for...
The Central Bank of Nigeria (CBN) says the naira redesign will encourage expanded financial inclusion and other forms of electronic transactions. Ahmed Umar, the Director, Currency Operations of CBN, said this at the 2022 workshop for business editors and members of the Finance Correspondents Association of Nigeria (FICAN) in...
Mr Suleiman Lawal, a Lecturer at the Economics Department, Umaru Musa Yar’adua University, Katsina (UMYU), said the Naira notes redesign policy would assist in curbing inflation in the country. Lawal made the assertion in an interview with the News Agency of Nigeria (NAN) on Monday in Katsina. It would...
Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, says with the introduction of the redesigned Naira notes, no individual or organisation will be allowed to withdraw huge cash without being interrogated from relevant anti-corruption agencies. Emefiele stated this when he fielded questions from State House correspondents on...
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said the apex bank will henceforth take cashless policy seriously, noting that people will fill countless forms and provide their data before they can withdraw large amounts. He stated these on Wednesday while fielding questions from State...
Senator Shehu Sani has reacted to the newly redesigned naira notes released today, November 23. The redesigned N200, N500, and N1000 notes were unveiled by President Buhari at the Federal Executive Council meeting. Reacting to the news via his Twitter handle, Senator Sani wrote ”What shall it profit a...
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...
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...
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 Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa on Thursday said the number of governors on its watchlist has increase. Mr. Bawa disclosed this while briefing reporters at the State House after meeting with President Muhammadu Buhari. According to Channels reports, The EFCC boss declined...
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...
. The Central Bank of Nigeria (CBN) has restated its commitment to protect interests of millions of unbanked and underserved Nigerians, who mostly reside in the rural areas. The apex bank made this known on Sunday, in a statement by its Director, Corporate Communications, Mr Osita Nwanisobi, against 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 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...
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...