Headlines

Expert decries continuous cash scarcity, tasks CBN on circulation of naira notes

Ihesiulo Grace 21 March 2023 0

By Kadiri Abdulrahman A financial expert, Mr Muktar Muhammed, has urged the CBN to take urgent steps to address continuous shortage of naira notes. Muhammed, also an investment banker made the call on Sunday in Abuja when he spoke with the News Agency of Nigeria (NAN). According to him, refusal

Money

CBN urges businesses to adopt eNaira to lessen demand for cash

Ihesiulo Grace 24 February 2023 0

The Central Bank of Nigeria (CBN) has urged more businesses to adopt the Central Bank Digital Currency (CBDC)-eNaira- for transactions and trade, as queues for cash withdrawals in banking halls and at Automated Teller Machines (ATMs) continue, This is even as it said, it is in discussions with more telecommunication companies on the adoption of […]

Business

Naira Scarcity: CPPE laments policy summersault by CBN

Ihesiulo Grace 21 February 2023 0

By Joy Obakeye The Centre for the Promotion of Private Enterprise (CPPE) has condemned the the policy summersault being exhibited by Central Bank of Nigeria (CBN) over Naira scarcity. He expressed his concern about the conflicting directives emanating from the CBN on where to deposit the old currency notes, whether the commercial banks or Central […]

Politics

2023 Elections under Threat as CBN yet to release funds to Security Agencies, INEC

Ihesiulo Grace 19 February 2023 0

With less than a week to the general elections, the Central Bank of Nigeria, CBN, is yet to release funds to Security Agencies and the Independent National Electoral Commission, INEC for logistics. The Naira-Swap policy introduced by the Apex bank has caused a serious cash crunch in the country leading to concerns that the Elections […]

Headlines

Naira Scarcity: Agony, suffering persist as CBN insists on February 10 deadline

Ihesiulo Grace 15 February 2023 0

*Banks stop receiving old naira notes *As Nigeria’s cashless transactions up 45% to N39trn By Temitope Adebayo Contrary to expectations that the suffering and agony experience by Nigerians, due to the scarcity of both the old and the new naira notes would subsidize this week, it was surprising that the Central Bank of Nigeria (CBN), […]

Business

Naira Redesign: CBN top officials meet ahead expiration of Supreme Court ruling

Ihesiulo Grace 13 February 2023 0

*Suffering of Nigerians worsens as more banks shut doors *Naira gains amidst Nigeria’s economy uncertainties By Motolani Oseni, Joy Obakeye, Chukwuwmeke Iwelunmo and Godwin Anyebe Following the advice by the members of council of state to the Central Bank of Nigeria (CBN) on the need to ease the suffering of Nigerians, indications are rife that […]

News

CBN most potent threat to 2023 elections – NASS

Ihesiulo Grace 9 February 2023 0

*As INEC expresses fear over unending violence By Tunde Opalana The National Assembly Wednesday declared that the most potent threat to the forthcoming 2023 general elections , is the Central Bank of Nigeria ( CBN) through its badly implemented Naira redesign policy . This is as the Independent National Electoral Commission ( INEC), expressed fear […]

Business

CBN, Banks working assiduously to bring naira notes situation under control-CIBN

Ihesiulo Grace 8 February 2023 0

By Motolani Oseni The Chattered Institute of Bankers of Nigeria (CIBN), has said the banking industry stakeholders, including the Central Bank of Nigeria (CBN) and the commercial banks operating in the country are working assiduously to bring the new naira notes situation under control. In a statement signed by its Registrar/Chief Executive, Akin Morakinyo, The […]

Business

CBN Naira policy: Adamawa citizens experiencing untold hardship, SDP guber candidate cautions FG

Ihesiulo Grace 3 February 2023 0

BY TOM GARBA The Adamawa State Gubernatorial candidate of Social Democratic Party (SDP), Dr.Umar Ardo, has cautioned the Central Bank of Nigeria, CBN to address the economic untold hardship caused by currency policy. Ardo gave the caution while addressing a press conference in Yola yesterday, faulting the timing of implementing the policy, noting that Nigerians […]

Business

Nigerian treasury bills yield tumbles as CBN rates fall rapidly

Ihesiulo Grace 31 January 2023 0

The average yield on Nigerian Treasury Bills continues to fall rapidly amidst a sustained rally across the tenor. Yield tumbles to 1.5 per cent across the tenor following a large decline in spot rates offered by the Central Bank of Nigeria (CBN) at the primary market auction last week. The auction result indicated that CBN […]

Headlines

Knocks, commendations as CBN extends deadline for swapping old naira notes

Ihesiulo Grace 30 January 2023 0

*Extension will reduce queues at ATMs, panic, uncertainty among SMEs-Prof Uwaleke *10-day extension is grossly inadequate to make up for shortcomings-CPPE *It is prudent for CBN to extend the deadline to April 2023-Prof Ukpong MOTOLANI OSENI Mixed reactions have trailed the Central Bank of Nigeria (CBN) decision to extend old naira use for transactions till […]

Headlines

Buhari approves 10 days extension for currency swap

Ihesiulo Grace 30 January 2023 0

BY UKPONG UKPONG President Muhammadu Buhari yesterday approved the extension of the ongoing currency swap by ten days, moving the deadline from January 31, 2023 to February 10, 2023. President Buhari gave the approval at a meeting with the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in Daura, Katsina State, urging more […]

News

Naira redesign: Ex-lawmaker, traditional ruler fault Emefiele’s policy, call for his sack

Ihesiulo Grace 30 January 2023 0

BY ESE ADAGBRA Chief Hon. Napoleon Gbinije, former Member, House of Representatives Okpe Sapele Uvwie Federal Constituency and His Royal Highness Afro Biukeme, the Amananawei of Aghoro 11 Community, Iduwini Kingdom of Ekeremor Local Government Area of Bayelsa State, have both faulted the desperation of Mr. Godwin Emefiele, Governor of Central Bank, whose action they […]

Business

CBN, NIBSS unveil Nigeria’s domestic card scheme, AfriGo

Ihesiulo Grace 27 January 2023 0

By Motolani Oseni The Central Bank of Nigeria (CBN) on Thursday officially unveiled the Nigerian National Domestic Card Scheme -AFRIGO, in conjunction with the Nigeria Inter-Bank Settlement Systems (NIBSS) Plc, the Bankers Committee, and other financial ecosystem stakeholders. AFRIGO card is operated by AfrigoPay Financial Services Limited (AFSL), a national domestic card

Business

CBN, NIBSS unveil Nigeria’s domestic card scheme, AfriGo

Ihesiulo Grace 26 January 2023 0

By Motolani Oseni The Central Bank of Nigeria (CBN) on Thursday officially unveiled the Nigerian National Domestic Card Scheme -AFRIGO, in conjunction with the Nigeria Inter-Bank Settlement Systems (NIBSS) Plc, the Bankers Committee, and other financial ecosystem stakeholders. AFRIGO card is operated by AfrigoPay Financial Services Limited (AFSL), a national domestic card

News

Banks hoarding new naira notes risk stiffer sanction – CBN

Ihesiulo Grace 26 January 2023 0

The Central Bank of Nigeria, CBN, has vowed to impose stiffer sanctions on financial institutions hoarding the new naira notes. The apex bank issued the threat on Wednesday in reaction to the allegation that enough notes were not released. Musa Jimoh, Director of the Payment System Management Department, denied the claim at a news conference […]

Business

CBN, NIBSS to transform African payment ecosystem with domestic card scheme

Ihesiulo Grace 25 January 2023 0

By Joy Obakeye The Central Bank of Nigeria (CBN) announced in 2022 that it will be launching a National Domestic Card Scheme in conjunction with the Nigeria Inter Bank Settlement Systems (NIBSS) Plc, the Bankers Committee and other financial ecosystem stakeholders. The new Domestic Card Scheme is a robust in-country Scheme tailored to address the […]

Headlines

Reps summon bank operators, CBN gov over scarcity of new naira notes

Ihesiulo Grace 25 January 2023 0

The House of Representatives has summoned bank operators and the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on the scarcity of the new naira notes. The News Agency of Nigeria (NAN) reports that the bank operators are to appear on Wednesday, while the CBN governor will appear on Thursday. This is sequel […]

Business

CBN clarifies N89trn Stamp Duty claim, says banks collected N370.686bn

Ihesiulo Grace 25 January 2023 0

.No going back on Jan 31 deadline for old naira notes- Emefiele By Motolani Oseni The Central Bank of Nigeria (CBN) has clarified the claims that it is holding on to N89 trillion stamp duty collected by the Deposit Money Banks (DMBs) Speaking to the newsmen after the first Monetary Policy Committee (MPC) meeting of […]

Headlines

Emefiele updates Buhari on availability of new Naira notes, others

Ihesiulo Grace 20 January 2023 0

The Governor of the Central Bank of Nigeria (CBN) on Thursday in Abuja updated President Muhammadu Buhari on the activities of the bank. The News Agency of Nigeria (NAN) reports that the CBN governor, who briefed the president, had earlier on Thursday morning attended a meeting between the president and the visiting Director General of […]