President Muhammadu Buhari has backed the Central Bank of Nigeria (CBN) in the move to have some of the Naira notes redesigned. Finance and National Planning Minister, Dr Zainab Ahmed had said last Friday that her ministry was not aware of the policy. But the CBN responded that it followed due process. A statement on Sunday by the Senior Special …

The Central Bank of Nigeria (CBN) has said that it followed due process in the policy to redesign some Naira notes. This is in apparent response to Friday’s comment by the Minister of Finance, Budget and National Planning, Dr Zainab Ahmad that her ministry was not aware of the policy. The CBN said the policy is indeed 12 years due. CBN’s …

The United Bank for Africa (UBA) says it will open on Saturdays for the period of the transition between the old Naira notes and the new ones, announced this week by the Central Bank of Nigeria (CBN). The CBN announced on Wednesday that the existing N200, N500 and N1,000 currency notes will cease to be legal tender from next 31st …

Stanbic IBTC Holdings, a member of Standard Bank Group, has reiterated its commitment to equip Nigerians with digital skills that enable them to be competitive in the tech-savvy industry and advance in their careers. The Group’s Chief Executive Officer, Dr Demola Sogunle recently stated that the Digital Skills Empowerment Programme (DiSEP) was a programme designed to provide Nigerian youths with …

The Central Bank of Nigeria (CBN) has announced a calendar of events to reflect on and mark the first anniversary of the introduction of the eNaira, the first digital currency by any Central Bank in Africa. The digital currency, eNaira was unveiled by President Muhammadu Buhari on Monday, 25 October 2021. according to a statement by CBN’s Director of Corporate …

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has proposed top-quality digital products and payment collection solutions for business enterprises and merchants in Nigeria. The financial solutions include C’Gate Payment,Payment Gateway Service, PrimePay and POS terminal. Having observed the challenges businesses face when receiving payments during transactions, the bank came up with the digital payment products that …