Cash policy: Court injunction handiwork of June 12 elements, says Ganduje

February 7, 2023 Bode Olagoke 0

Kano state governor, Dr. Abdullahi Umar Ganduje has lamented that elements of the annulled June 12, 1992 presidential election are regrouping and dangerously masquerading in the prevailing crisis generated by the cash policy to scuttle the nation’s hard earned democracy. He said the group’s latest attempt at that was camouflaging in unknown political parties through the use of legal instrument Read More

CBN includes MFBs, 30,000 supper agents in cash swap initiatives

February 7, 2023 Amaka Ifeakandu 0

Central Bank of Nigeria (CBN) said it has expanded the number of participating agents  in cash swap initiatives, including some micro finance banks to reduce pressure in the banking halls and ensure that the new naira notes  circulate across the country. The Governor, CBN, Godwin Emefiele who disclosed this over the weekend during press conference on the on the Benefits Read More

Bankers, politicians and scarcity of new naira notes

February 7, 2023 Jerry Uwah 0

Nigerian bankers are as greedy and selfish as the politicians they are fronting for. The decision of the Central Bank of Nigeria (CBN) to redesign the naira in a desperate bid to mop up looted funds stashed away in private homes has brought out the evil in Nigerian bankers and politicians. The two groups are in a grand conspiracy to Read More

Naira redesign: Court bars CBN from shifting cashless policy

February 6, 2023 Lekan Shehinde 0

The High Court of the Federal Capital Territory has restrained the President of the Federal Republic of Nigeria, Central Bank of Nigeria, the Governor of the Central Bank of Nigeria and twenty-seven listed commercial banks from suspending, stopping, extending or interfering with the currency redesign terminal date of February 10th or issue any directive contrary to the February 10 date. Read More

10 political parties threaten boycott of elections over Naira redesign, cashless policy

February 6, 2023 Lekan Shehinde 0

Ten out of the eighteen registered political parties participating in the 2023 general elections have threatened to withdraw all participation from the election if the federal government and the Central Bank of Nigeria cancel or suspend for whatever reasons the cash withdrawal limit and Naira redesign policies. This position was made known Monday at a joint world press conference by Read More

godwin-emefiele-and-femi-gbajabiamila

Currency swap crisis: If Buhari’s intervention fails, we‘ll come in again – Gbajabiamila

 Speaker House of Representatives Femi Gbajabiamila has said the Green Chamber would have no option but to reconvene before the February 25 elections if the Central Bank of Nigeria (CBN) failed to address the hardships Nigerians face due to the currency swap policy. He also said the House would come in again if nothing changes after President Muhammadu Buhari’s intervention Read More

Shortage of new naira notes: Buhari heaps blame on banks

February 3, 2023 Solomon Arowolo 0

President Muhammadu Buhari, has slammed commercial banks over shortage of new Naira notes. Blueprint had reported that the governors under the aegis of the All Progressive Congress (APC) had visited the President, on Friday in Abuja to relate the plight of Nigerians concerning the lingering Naira shortage. The president expressed doubts about the commitment of banks, in particular, to the success Read More

Naira swap policy: Atiku, PDP working with saboteurs against Nigerians – Tinubu 

February 3, 2023 Bode Olagoke 0

Presidential candidate of the ruling All Progressives Congress (APC) Bola Ahmed Tinubu, has accused his opponent in the Peoples Democratic Party (PDP) Atiku Abubakar of working with saboteurs on the current scarcity of new naira notes and fuel scarcity. A statement released Friday in Abuja by Tinubu’s Presidential Campaign Council said Anyone who lives in Nigeria and not Dubai and Read More

CBN orders banks to pay new notes over the counter

February 3, 2023 David Agba 0

The Central Bank of Nigeria (CBN) Thursday reversed itself and directed banks to commence paying customers new Naira notes over the counter. The apex bank said the order was to reduce queues around Automated Teller Machines (ATMs) across the country. CBN Governor Godiwn Emefiele gave the directive in Abuja on Thursday. A statement from CBN’s Director Corporate Communication Osita Nwanisobi, explained that Read More

The furore about CBN currency redesign and cash swap exercise

February 2, 2023 Editorial V 0

By There is a lot of fuss about the current Central Bank of Nigeria’s currency redesign and cash swap policy. Before Mr. Godwin Emefiele, the CBN governor, returned from vacation in January there has been stories and rumours of his impending arrest by the Department of States Services (DSS) on allegation of sponsoring terrorism and some high placed individuals within Read More

Breaking: CBN gives fresh order to Banks on new naira notes

February 2, 2023 Solomon Arowolo 0

As Nigerians groan over scarcity of new Naira notes, the Central Bank of Nigeria (CBN), has given a fresh order to commercial banks. The apex bank on Thursday ordered financial institution to start issuing new naira notes at the counter. The new directives were to relieve Nigerians from the challenges they are experiencing with getting access to the new notes. Read More

godwin-emefiele-and-femi-gbajabiamila

Redesigned naira notes: Between Reps, CBN and the rest of us

February 2, 2023 Editorial IV 0

The House of Representatives has been in the forefront of agitation for the extension of the deadline fixed by the Central Bank of Nigeria for the old to new currency notes swap. JOSHUA EGBODO reviews the issues involved The sudden announcement It was a mixture of excitement, anxiety and shock across the country, when on October 26, 2022, Governor of Read More

CBN issues fresh directives to banks on new naira notes

January 31, 2023 Rosemary Moribirin 0

Following the extension of the old naira notes by the apex bank, the Central Bank of Nigeria (CBN) has issued new directives to commercial banks operating in the country. A statement issued after the CBN bankers committee meeting on Monday reads, “No bank is authorized to pay out old notes again via ATMs or in bank branches over the counter. Read More

New, old naira notes: Reps reject CBN extension

January 29, 2023 Joshua Egbodo, Abuja 0

The House of Representatives ad-hoc committee on new naira re-design and naira swap policy has rejected the 10 days extension granted by the Central Bank of Nigeria (CBN) for the exchange of old naira notes. The CBN had fixed January 31st as the deadline for the exchange of the old naira notes; N200, N500 and N1000. The CBN governor, Godwin Read More

VIDEO: At last, Atiku speaks on CBN’s January 31 deadline for old naira notes

January 28, 2023 Rosemary Moribirin 0

The presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar has begged the Centr Bank of Nigeria (CBN), governor, Godwin Emefiele to extend the cash swap deadline. Atiku called on the Federal Government of Nigeria to reconsider the deadline to ease the suffering of Nigerians who are finding it difficult to exchange old currencies for new ones. He made Read More

Nigerian Young Professionals back CBN Governor over currency redesign policy

January 27, 2023 Bode Olagoke 0

The Nigerian Young Professionals Forum (NYPF), the body of young professionals across Nigeria made up of frontline entrepreneurs and business leaders in different sectors of the economy have thrown its weight behind the embattled Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, over what the group described as unnecessary harassment and attempt to force the CBN Governor to extend the Read More

Things you need to know about newly launched National Domestic card

January 27, 2023 Rosemary Moribirin 0

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele launched the National Domestic card on January 16, 2023. The card was launched through the Nigeria Inter-Bank Settlement Systems (NIBSS) in partnership with the Bankers Committee. Emefiele stated that dollar charges on foreign cards for domestic transactions conducted within Nigeria will be stopped. All domestic card transactions that will Read More

CBN directed us to dispense redesigned naira only via ATMs – Banks

January 27, 2023 Joshua Egbodo 0

Controversies surrounding the January 31 deadline fixed by the Central Bank of Nigeria (CBN) for citizens to swap old currency notes for the redesigned naira took a new dimension, Thursday, with Speaker House of Representatives Femi Gbajabiamila threatening to issue a warrant of arrest against the CBN governor, Mr. Godwin Emefiele for failing to honour the Green Chamber’s invitation. The Read More

Breaking: CBN increases interest rate

January 24, 2023 Solomon Arowolo 0

The Central Bank of Nigeria (CBN) on Tuesday January 24, 2023 announced increase in the MPR from 11.5 per cent earlier last year to 16.5 per cent across four consecutive rate hikes in 2022. The apex Bank had through it’s Monetary Policy Committee voted to increase the benchmark interest rate by 100 basis points to 17.5 per cent. Details loading…