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 …

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele resumed duty on Monday after his annual vacation abroad, according to a statement by the apex bank’s Director of Corporate Communication, Mr Osita Nwanisobi. Since his absence from the public view last month, there have been speculations about his status as the No 1 banker, including allegations of …

The Central Bank of Nigeria (CBN) has assured marketers and traders that it has made the redesigned Naira notes (1,000, 500, 200) available for them via Automated Teller Machines (ATMs). CBN’s Branch Controller for Lagos State, Mr Koyor Baribokola gave the assurance when the apex bank took its sensitization tour on the new naira notes to Balogun Market, Lagos, on …

The Central Bank of Nigeria (CBN) has denied any wrongdoing in the recent sale of Polaris Bank. It also described claims that a higher offer was made during the bidding process to buy the Bank as spurious, malicious, and misleading. In a response to an online publication that another party made a higher purchase offer than what the apex bank …

National Coordinator and Special Envoy of Ecology and Marine International Human Rights Organisation, Alhaji Musa Saidu, has cautioned against inference in the ongoing investigations of alleged fraud by the Central Bank of Nigeria Governor, Dr Godwin Emefiele. Saidu told the News Agency of Nigeria on Tuesday in Abuja that the recent criticism against DSS investigations of N70 trillion alleged looted …

At least 6,047 Bank Verification Numbers (BVNs) have been added to the monitoring list of the Central Bank of Nigeria (CBN) for possible fraudulent activities, according to the CBN Financial Stability June 2022 report published this month. The report also noted that 11,871 BVNs have been watch-listed as deceased persons this year. The report disclosed that the apex bank conducted …

The Central Bank of Nigeria (CBN) has announced a new policy on over-the-counter withdrawals, effective 9th January, next year. The apex bank has mandated deposit money banks and other financial institutions to ensure that over-the-counter cash withdrawals by individuals and corporate entities do not exceed N100,000 and N500,000, respectively per week. The revised cash withdrawal limits, contained in a circular …

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 Conference of Nigeria Political Parties (CNPP) has commended the Central Bank of Nigeria (CBN) over its move to redesign the N200, N500 and N1, 000 banknotes. In a statement in Abuja on Thursday by its Secretary General, Chief Willy Ezugwu, CNPP said: “Only politicians who intended to buy votes” and other equally ill-motivated elements would criticise CBN’s action. The …

Three existing Nigerian currency notes – N200, N500 and N1,000 – will cease to be legal tender from 31st January next year, that is 98 days away. The Central Bank of Nigeria (CBN) announced on Wednesday that Nigerians and others in possession of the notes should return them the banks, in place of the redesigned notes. According to the CBN Governor, …