The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele stated on Tuesday that banks are to blame for the scarcity of new naira notes. He said some of them have not complied with a directive to only load the new notes on Automatic Teller Machines (ATMs), but have instead been handing out bundles to individuals who spray them …

The Board of Directors of the United Bank for Africa Plc (UBA) has announced the appointment of Mrs Abiola Bawuah as the Chief Executive Officer (CEO) of UBA Africa. Bawuah will also join the Group Board as an Executive Director, overseeing the Group’s operations across the African continent, outside Nigeria. UBA operates in 19 African countries beyond Nigeria, in addition …

Kano State Governor, Dr Abdullahi Ganduje said on Sunday that the process of replacing old N1,000, N500 and N200 notes with re-designed ones has been stressful for his people. He said no fewer than 24 council areas of the state have no commercial banks. Ganduje spoke with reporters in Daura, Katsina State when he led a delegation of Kano stakeholders …

Nigerian banks have announced changes to operating hours ahead of the 31 January deadline for phasing out old naira notes. FirstBank of Nigeria Limited, Standard Chartered, Wema Banks, and many others declared that their branches would be open for cash deposits on Saturday and Sunday. The bank made the statement in a messages to customers on Friday, via their social …

With three working days to the deadline for the phasing out of the old N200, N500, and N1000 notes, officials of the Central Bank of Nigeria (CBN), Abeokuta branch on Thursday visited various mobile money and Point of Sales (PoS) agents in Ogun State to monitor the implementation of its recently introduced cash swap policy. The cash swap programme is …

The Central Bank of Nigeria (CBN) on Thursday virtually launched the much-touted National Domestic Card, aimed at creating a strong payment system and driving financial inclusion in Nigeria. The multipurpose National Domestic Card, AfriGo will signal the suspension of charges on all cards, according to CBN governor, Mr Godwin Emefiele, who said all payments in the country would be made …

The Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila has said that he would not hesitate to ask the Inspector General of Police, Usman Baba to issue an arrest warrant on the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele to compel him to appear before the House. Gbajabiamila said this on Thursday in reaction …

The Central Bank of Nigeria (CBN) has insisted that the deadline for the validity of the old N200, N500 and N1,000 remains next Tuesday, 31 January. But just as the CBN Governor, Mr Godwin Emefiele announced this at the CBN’s Monetary Policy Committee (MPC) meeting on Tuesday, the National Assembly asked the regulatory bank to extend the deadline for the …

Traders and commercial motorcylists are rejecting the outgoing Naira notes, which will cease to be lenger tender in seven days. Last 26 October, the Central Bank of Nigeria (CBN) announced that the redesigning of the N200, N500 and N1,000 notes, which would run side-by-side with the old versions until 31 January. President Muhammadu Buhari then launched the new notes on …

With nine days to the deadline for the easing out of the old Naira notes in place of the redesigned ones, the Central Bank of Nigeria (CBN) has said that it would launch a cash swap programme on Monday. According to the regulatory bank, the programme would enable the rural population and those with limited access to formal financial services …