Business

CBN partners Google to establish virtual currency museum

Ihesiulo Grace 20 May 2023 0

By Temitope Adebayo The Central Bank of Nigeria (CBN) has said it is collaborating with Google to establish a Virtual Currency Museum Gallery. The CBN Deputy Governor of Operations, Folashodun Shonubi, revealed this at the International Museums Day (IMD) celebration, in Abuja. According to him,

Politics

Senate to CBN: Release $717.4m trapped airlines funds

Ihesiulo Grace 18 May 2023 0

…makes case for $25m dollar auction for operating airlines By Tunde Opalana The Central Bank of Nigeria (CBN) has been asked to release trapped funds to the tune of $717, 478, 606 to airlines operating in the country. The charge on the apex bank was made by the Senate on Wednesday during plenary. The upper […]

News

Firm derides provision of forex by CBN for production of passports

Ihesiulo Grace 11 May 2023 0

By Tom Okpe A firm contracted by the Federal Government for the production of the country’s international passports, Iris Smart Technologies Limited, has decried the unavailability of Foreign Exchange, (Forex) to carry out its operations effectively, by the Central Bank of Nigeria, (CBN). The company, also accused the Nigeria Security Minting and Printing PLC (NSMP)

Top Stories

Despite allegations of fraud Senate approves expended N22.7tr CBN Ways and Means loans for Buhari

Ihesiulo Grace 4 May 2023 0

By Tunde Opalana In what is generally perceived as gross misconduct and fraud, and coming less than one month to the expiration of the current President Muhammadu Buhari – led All Progressives Congress (APC) administration, another loan of N22.7tr incurred by the government, has been approved by the Nigerian Senate. President Buhari had last year […]

Business

CBN: No plans to phase out redesigned Naira notes

Ihesiulo Grace 1 May 2023 0

BY OMOTOLANI OSENI The Central Bank of Nigeria (CBN) has said that there are no immediate or future plans to dump the redesigned Naira notes from circulation. CBN’s Acting Director, Corporate Communications Department, Isa AbdulMumin, said this in a statement in Abuja. The statement was a reaction to a viral news on social media that […]

News

Cash crunch: NLC to occupy CBN offices nationwide

Ihesiulo Grace 23 March 2023 0

BY UKPONO UKPONG For failing to make cash available to Nigerians, the Nigeria Labour Congress (NLC), has vowed to shut down all the branches of Central Bank Nigeria CBN nationwide. Addressing journalists at the end of its Central Working Committee (CWC), meeting in Abuja, the NLC President, Comrade Joe Ajaero directed that all State Councils […]

Top Stories

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 by the CBN to obey […]

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 […]

Top Stories

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 […]

Top Stories

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 […]

Top Stories

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