CBN
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The Central Bank of Nigeria (CBN) has placed a N50,000 daily limit on contactless payments through bank accounts or digital wallets. The apex bank also limited the amount per transaction to N15,000 on contactless payments. The CBN disclosed this on Tuesday in a circular titled “Transaction Limits on Contactless Payments.” Musa Jimoh, Director, Payment System…
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President Bola Tinubu has finally spoken about the suspension and subsequent arrest of the former governor of the Central Bank of Nigeria, Godwin Emefiele. Tinubu had on June 9, suspended Emefiele to allow for investigation into some allegations leveled against the CBN former governor. Emefiele was subsequently arrested in Lagos State and flown to the…
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The Central Bank of Nigeria, CBN, has announced further policy changes. According to the Director of Corporate Communications, Dr Isa AbdulMumin, the policy changes are aimed at promoting transparency, liquidity and price discovery in the FX market. AbdulMumin said this is to improve FX supply, discourage speculation, enhance customer confidence and ensure overall stability in…
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President Bola Tinubu met with the former Emir of Kano, Sanusi Lamido Sanusi, on Thursday. Tinubu met with Sanusi at the Presidential Villa on Thursday. The former Central Bank of Nigeria (CBN) governor arrived at the State House at 5 pm for the meeting with Tinubu. The agenda of the meeting has yet to be…
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Following his suspension as the governor of the Central Bank of Nigeria on Friday, a chieftain of the All-Progressives Congress, APC, Femi Fani-Kayode, has rained curses on Godwin Emefiele. President Bola Tinubu had in a statement by the Director of Information, Office of the Secretary to the Government of the Federation Willie Bassey asked Emefiele to…
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The apex Igbo socio-cultural organisation, Ohanaeze Ndi Igbo, on Saturday, condemned the suspension of the the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, describing the action by President Bola Tinubu as a sign of ethnic cleansing. The group disclosed this in a statement made available to journalists by Mazi Chima Uzor, Director of National…
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The Tinubu/Shettima presidential campaign council spokesperson, Bayo Onanuga has mocked the embattled Godwin Emefiele over his suspension as Central Bank of Nigeria, CBN, Governor. His reaction came after the suspension of Emefiele on Friday evening. Mr Folashodun Adebisi Shonubi has been appointed the acting Governor of the Central Bank of Nigeria. Reacting to the development…
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Nigeria’s leading newspaper, Daily Trust, has replied the Central Bank of Nigeria (CBN) over the cover page story of Thursday, June 1, 2023. The newspaper had reported how the apex bank devalued the Naira to N631 to the dollar from N461.6 it sold at the Importers and Exporters (I&E) window the previous day. Some bank…
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The Senate, yesterday, abandoned its previous hard-line stance and approved the conversion to a 40-year bond of the N23.72 trillion Federal Government’s unappropriated expenditure funded by the Central Bank of Nigeria (CBN) through its ways and means (W&M) window. President Muhammadu Buhari, last year, wrote the National Assembly to approve the amount alongside a fresh…
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Nigeria’s central bank raised its benchmark lending rate by 50 basis points to 18% (NGCBIR=ECI) on Tuesday as monetary authorities continued to tighten policy to rein in inflation which has squeezed consumer purchasing power. The high cost of living was among major concerns for voters during last month’s disputed presidential election that was won by…
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Days after the Supreme Court nullified the Central Bank of Nigeria’s Naira redesign policy, the apex bank has remained silent. However, investigations by MEZIESBLOG show that some commercial banks have started paying their customers old N500 and N1000 naira notes. MEZIESBLOG went around major banks in the Nation’s capital and learnt that Guarantee Trust Bank Along…
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The Central Bank of Nigeira, CBN has opened a portal for Nigerians to deposit the old Naira notes by filling up forms. This development comes after the adjournment of the case on the legality of the February 10, 2023 deadline for the Naira Swap to February 22 by the Supreme Court. The Supreme Court adjourned…
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Nigerians have continued to experience scarcity of the naira notes since the January 31 deadline issued by the Central Bank of Nigeria, CBN, on the swap of the currency. The CBN had earlier set a January 31 deadline for the use of the old naira notes. It was later extended to February 10. However, following…
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The legal fireworks between the three northern States controlled by the All Progressives Congress, APC, (Zamfara, Kaduna and Kogi) and the federal government over the controversies surrounding the Naira redesign policy by the Central Bank of Nigeria (CBN) will resume today, Wednesday, at the Supreme Court. The Apex Court will hear the merit of the…
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The Central Bank of Nigeria has given assurance that it has the capacity and enough materials to produce the required indent of the Naira for all. The apex bank appealed to the public to disregard any contrary report to the stand of the CBN, by exercising more restraint, as they work to increase the circulation of…
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The Central Bank of Nigeria, CBN Governor, Godwin Emefiele has ruled out the possibility of extending the 10-day grace for the old Naira notes to remain in circulation. He appealed to Nigerians to endure the pains emanating from difficulties in getting the newly redesigned Naira notes from financial institutions. The governor who made the appeal…
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