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 … Continue reading LEAKED: We stand by our story on fuel subsidy, Daily Trust replies CBN
Tag: currency
CBN denies allegation of currency devaluation
The attention of the Central Bank of Nigeria (CBN) has been drawn to a news report by Daily Trust Newspaper of June 1. 2023. titled 'CBN Devalues Naira To 630/$1. We wish to state categorically that this news report which in the imagination of the newspaper is exclusive is replete with outright FALSEHOODS and destabilizing … Continue reading CBN denies allegation of currency devaluation
CBN sources explain why new naira notes are scarce
The headquarters of the Nigerian central bank stands in Abuja, Nigeria, on Wednesday, Oct. 21, 2015. A drop in crude prices in the past year has put pressure on public finances, while the naira has declined 7 percent against the dollar this year. Photographer: George Osodi/Bloomberg There seems to be no end in sight to … Continue reading CBN sources explain why new naira notes are scarce
Naira Crunch: Long queues continue in Imo state
Days after the Central Bank of Nigeria said it has released old notes to Deposit Money Banks, scarcity of naira notes still bites harder in Imo State. Some of the residents told reporters that they were still unable to access either the old or the new notes from banks. At the Ekeukwu Owerri Market, a … Continue reading Naira Crunch: Long queues continue in Imo state
FG delays currency replacement plan after court order
Nigeria’s central bank delayed a plan to remove high-value currency notes following an order by the nation’s Supreme Court, after severe disruptions in Africa’s biggest economy. The Central Bank of Nigeria began replacing old 200-, 500- and 1,000-naira notes with new ones in mid-December in a bid to mop up excess cash, rein in inflation and curb … Continue reading FG delays currency replacement plan after court order
Naira Scarcity: CBN approved use of old notes
The Governor of Anambra State, Prof Charles Soludo confirmed on Monday that the Central Bank of Nigeria has asked commercial banks to dispense and accept old naira notes as deposits. Soludo, a former CBN governor, made this known in a statement he posted on his social media handles. He explained that the Governor of CBN, … Continue reading Naira Scarcity: CBN approved use of old notes
CBN silence on naira scarcity keeps banks, business owners in confusion
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 … Continue reading CBN silence on naira scarcity keeps banks, business owners in confusion
NAIRA SCARCITY: El-Rufai has the right to challenge Buhari
President Muhammadu Buhari addressed Nigerians on Thursday morning amid the current cash crunch which has become a major issue in the country. Buhari directed that the old N200 notes be re-introduced into circulation, as they will remain legal tender until April 10. The Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, then met … Continue reading NAIRA SCARCITY: El-Rufai has the right to challenge Buhari
Emefiele: I have ordered banks to distribute old N200 notes
The governor of the Central Bank of Nigeria, Godwin Emefiele has said that he had met the commercial banks and given them directives on how to make the old N200 naira notes available to Nigerians. Emefiele said this in a video clip recently posted on the CBN official Twitter handle while addressing journalists after his … Continue reading Emefiele: I have ordered banks to distribute old N200 notes
Politician alleges contempt of court after Buhari’s State of the Nation address
A Senior Advocate of Nigeria, Ebun-Olu Adegboruwa, has described the announcement by the President, Major General Muhammadu Buhari (retd.), that only the old N200 banknote remains legal tender while the old N500 and N1,000 notes are not as a contempt of court. According to the lawyer-cum-activist, the president cannot overrule the Supreme Court of Nigeria. … Continue reading Politician alleges contempt of court after Buhari’s State of the Nation address
Sanwo-Olu: It is illegal to reject old naira notes in Lagos
SANWO-OLU WARNS AGAINST REJECTION OF OLD NOTES The Lagos State Government wishes to put on record the patience and calmness of Lagosians following the controversy generated by the Naira shortage crisis. The State Government has joined the dispute at the Supreme Court, which today adjourned the hearing of the matter till February 22. When the … Continue reading Sanwo-Olu: It is illegal to reject old naira notes in Lagos
Emefiele begs Nigerians on naira redesign, rules out extension of 10-day ‘grace period’
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 … Continue reading Emefiele begs Nigerians on naira redesign, rules out extension of 10-day ‘grace period’
Atiku warns CBN against decision to extend deadline for naira swap
The Peoples Democratic Party presidential candidate, Atiku Abubakar, on Wednesday, asked the Central Bank of Nigeria not to grant a further extension after February 10 deadline for naira swap. This, he said, had become imperative to ensure the purpose and objective of initiating the redesigning of the currency are not destroyed. In a statement released … Continue reading Atiku warns CBN against decision to extend deadline for naira swap
2023 Elections: CBN’s cash withdrawal limits will cripple campaign funding
•Parties to write CBN for waiver, say cashless policy will choke political process, fundraising•If Buhari had no access to funding in 2014, he would never have been President, says PDP•Policy will create logistic problems, paying party agents nationwide will be difficult – ADC, ADP Political parties have kicked against the new cash withdrawal limits introduced … Continue reading 2023 Elections: CBN’s cash withdrawal limits will cripple campaign funding
CBN Governor: Buhari to unveil new naira notes tomorrow
The headquarters of the Nigerian central bank stands in Abuja, Nigeria, on Wednesday, Oct. 21, 2015. Godwin Emefiele, the Governor of the Central Bank has confirmed that President Muhammadu Buhari will unveil the designed Naira notes tomorrow Wednesday, November 23, 2022. Emefiele announced this during the Central Bank’s Monetary Policy Committee monthly meeting in Abuja. … Continue reading CBN Governor: Buhari to unveil new naira notes tomorrow
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