The Senate has urged the Central Bank of Nigeria (CBN) to extend the withdrawal date of the old naira notes from Jan. 31 to July 31. The upper chamber also urged the CBN to open an exchange window where people that don’t have bank accounts to deposit their old...
new Naira notes
Some bank customers have decried scarcity of the redesigned N1,000, N500 and N200 notes in Deposit Money Banks (DMBs) and Other Financial Institutions (OFIs). This is coming barely nine days to the Jan. 31 deadline to stop the use of the old notes of the redesigned denominations as legal...
The Nigeria Governors’ Forum (NGF) has set up a six- member committee to engage the Central Bank of Nigeria (CBN) to address anomalies in the country’s monetary management and financial system. The forum disclosed this in a communique issued on Saturday at the end of its virtual meeting held...
By PATRICK ABANG, Calabar – The Central Bank of Nigeria (CBN) has threatened to sanction erring banks who are still dispensing old naira notes through the Automated Teller Machine (ATM). The CBN Branch Controller in Cross River State, Ms. Glory Iniunam gave the warning in Calabar during a sensitization...
By SADIQ ABUBAKAR, Maiduguri – Borno State Governor Babagana Zulum has lamented over the non availability of the new naira notes contrary to the CBN directives for compliance on or before 31st January, 2023. Governor Zulum also suggested that there was need for special consideration to Borno citizens, who...
The Centra Bank of Nigeria (CBN) says that banks would work on Saturdays to receive the old Naira notes from customers. Mr Kama Ukpai, Leader of the CBN team to Ebonyi on new Naira notes, disclosed this on Friday during its enlightenment campaign on traders at the Eke Market,...
The Central Bank of Nigeria (CBN) has advised market traders and business operators in Kwara to embrace use of Point of Sale (POS) machines for transaction to beat the old Naira notes submission deadline rush. The CBN, Ilorin Branch Controller, Mr Najim Lamidi, gave the advice at the Day...
The Central Bank of Nigeria (CBN) on Friday in Abuja allayed the fears of rural dwellers at accessing the new naira notes before they cease to become legal tender on Jan. 31. It stated that it would launch a cash swap programme in rural and underserved areas of the...
The Governor of the Central Bank of Nigeria (CBN) on Thursday in Abuja updated President Muhammadu Buhari on the activities of the bank. The News Agency of Nigeria (NAN) reports that the CBN governor, who briefed the president, had earlier on Thursday morning attended a meeting between the president...
The Central Bank of Nigeria (CBN) on Thursday vowed to sanction any commercial bank found hoarding the new naira notes because it had produced enough for distribution to all the banks across the country. The CBN Kano Branch Controller, Alhaji Umar Biu, made the remark during a sensitisation on...
The Central Bank of Nigeria (CBN) has charged Nigerians to ensure they deposit the old N200, N500 and N1000 notes in their various banks before the Jan. 31 deadline. Mrs Olufolake Ogundero, the CBN Branch Controller in Oyo State, gave the charge on Thursday during the sensitisation programme held...
The 36 state governors have invited the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emiefele, for a virtual meeting on Thursday over issues related to the new naira notes introduced by the apex bank. The Head, Media and Public Affairs, Nigeria Governors’ Forum (NFG) Secretariat, Abdulrazaque...
The Central Bank of Nigeria (CBN) has assured marketers and traders that it has made the redesigned naira notes (1000, 500, 200) available for them via Automated Teller Machines (ATMs). The Branch Controller, CBN, Lagos State, Mr Koyor Baribokola, gave the assurance when the apex bank took its sensitisation...
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...
The Nigerian Security Printing and Minting (NSPM) Plc, the company responsible for producing Nigeria’s currency, has explained why the new Naira notes leave ink when rubbed on plain white. The company in a statement signed by the Managing Director, Ahmed Halilu highlighted this when addressing concerns by Nigerians on...
Some residents of Ilorin have called on the Central Bank of Nigeria (CBN) to avail the redesigned Naira notes to the general public to avoid confusion. They expressed concern over the non-availability of the new Naira notes in circulation, which they claimed they were not aware of its existence....
Financial experts have backed the review of the Central Bank of Nigeria (CBN) proposed cash withdrawal limit policy for individuals and corporates. They said this in separate interviews with the News Agency of Nigeria (NAN) on Wednesday in Lagos. NAN reports that the experts spoke against the background of...
The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says the newly redesigned Naira notes are already in banks and ready for issuance. According to a statement in CBN’s official twitter handle, Emefiele said so in Daura while on a visit to brief President on the...
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...
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...