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

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 […]

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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 […]

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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 […]

Business

CBN to sanction banks dispensing old Naira notes

Ihesiulo Grace 20 January 2023 0

The Central Bank of Nigeria (CBN) has vowed to sanction commercial banks still dispensing old Naira notes ahead of the Jan. 31 deadline for the cessation of the currencies as legal tender. Mr Godwin Emefiele, Governor of CBN stated this on Thursday during a sensitisation campaign on the redesigned Naira notes at Alamis Market in […]

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$53m debt: Emefiele asks A’Court to set aside Judgment summons

Ihesiulo Grace 19 January 2023 0

By Andrew Orolua The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has asked the Abuja division of the Court of Appeal to set aside an order of a Federal High Court compelling his appearance in a $53 million judgment debt proceedings. A legal practitioner, Joe Agi, SAN, had obtained a judgment […]

Business Top Stories

Why CBN may extend deadline to phase-out old naira notes

Ihesiulo Grace 17 January 2023 0

*As Nigerians lament over scarcity of the new notes By Chukwuemeke Iwelunmo There are indications that the Central Bank of Nigeria (CBN) may extend the deadline set to phase-out some denominations of the nation’s currency, as the general public found it difficult to access the redesigned notes. The Central bank had released the newly redesigned […]

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CBN office not invaded, Emefiele not arrested, says DSS

Ihesiulo Grace 17 January 2023 0

.As Apex Bank Governor resumes work By Andrew Orolua The Department of State Service, DSS, has refuted media report that its operatives invaded the Central Bank of Nigeria (CBN) and arrested its Governor, Godwin Emefiele, on Monday In a terse statement signed Dr. Peter Afunanya, the Department said that ” the attention of the Department […]

Business

Protest rocks Abuja over CBN Gov, demanded his Sack

Ihesiulo Grace 11 January 2023 0

Many youths are protesting at the Central Bank of Nigeria (CBN) headquarters in Abuja. They are calling for the resignation of CBN Governor, Godwin Emefiele, over what they described as his refusal to appear before security operatives for questioning. The placard-carrying protesters allege the CBN Governor is a threat to national security, demanding he must […]

News

League of professionals, Nothern leaders halt action against CBN Gov, Emefiele

Ihesiulo Grace 9 January 2023 0

..Says allegations untrue By Nsikak Ekpenyong League of professionals for good governance and accountability and the Nothern leaders coalition have called off their planned action against the Central Bank of Nigeria (CBN) governor, Godwin Emefiele. In a world press conference addressed Monday in Abuja by the leagues President, Gbenga Gonzallo and Alhaji Mohammed Yusuf

Business

CBN dismisses speculations over inadequacy of new notes in banks

Ihesiulo Grace 9 January 2023 0

*Says banks have enough new notes to meet demand By Temitope Adebayo The Central Bank of Nigeria (CBN) has dismissed speculations over the inadequacy of the new notes in the Deposit Money Banks (DMBs), saying the banks have enough new notes to circulate across the nation ahead of the January 31 deadline when old notes […]

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Withdrawal limit: Extend policy to June 30, 2023, Senate appeals to CBN

Ihesiulo Grace 29 December 2022 0

By Tunde Opalana The Central Bank of Nigeria (CBN) has been called upon to extend the cash withdrawal limit policy to June 30th, 2023. The Senate made the appeal Wednesday at plenary following the adoption of a motion sponsored by Senator Ali Ndume from Borno South. Senator Ndume in his lead debate faulted the timing […]

Business

CBN highlights security features of new notes

Ihesiulo Grace 27 December 2022 0

The Central Bank of Nigeria CBN, has highlighted the security features of the newly redesigned N200, N500 and N1,000 notes. The disclosure was announced amid rumours that counterfeit units of the new notes are in circulation. The bank had on December 6 announced its plans to redesign the naira notes as part of efforts to […]

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Cash withdrawal limits: NLC rejects CBN policy, says many Nigerians will be thrown into poverty

Ihesiulo Grace 27 December 2022 0

BY BENJAMIN OMOIKE The Central Bank of Nigeria’s CBN, imposed naira withdrawal limit, has been roundly condemned by the Nigeria Labour Congress (NLC), claiming the policy will cause greater hardship for the country’s citizens, especially the unemployed. The NLC said that the policy’s introduction was mistimed because most rural areas lacked the technological

News

CBN withdrawal policy: Oyo motor dealers call for caution

Ihesiulo Grace 23 December 2022 0

BY STEPHEN GBADAMOSI The newly-elected chairman of Motor Dealers Association of Nigeria (MODAN), Oyo State chapter, Alhaji Musibau Sulaimon Maito, has called on the Federal Government to prevail on the Central Bank of Nigeria (CBN), to rescind its decision to peg daily cash limit withdrawal to N50,000.00. Maito made the appeal during his acceptance speech […]

Business

Cash withdrawal limit: CBN says decision without political consideration

Ihesiulo Grace 23 December 2022 0

By Tom Okpe The Central Bank of Nigeria (CBN) says its policy on Cash withdrawal limit is not based on political consideration, contrary to insinuations in some quarters. CBN Deputy Governor, Aisha Ahmad, who represented the Governor, Godwin Emefiele at the House of Representatives, on Thursday, said that politics was not the reason for adopting […]

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‘Nigeria risk being blacklisted by global finance bodies over DSS allegations against Emefiele’

Ihesiulo Grace 22 December 2022 0

.As British MP flays attempt by DSS to frame CBN Gov for trumped up terrorism charge The Center for Financial Surveillance and Illicit Transaction Tracking Group (CSITT) has raised alarm of a looming consequences to the DSS unprovoked attack on the Central Bank Governor, Godwin Emefiele over the new withdrawal policy. The group in a […]

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Cash withdrawal policy: CBN bows to pressure, reviews weekly limits upward

Ihesiulo Grace 22 December 2022 0

.Pegs individual limit at N500, 000, corporate N5m .Apex Bank to address Reps today as Emefiele seeks medical treatment abroad By Temitope Adebayo and Tom Okpe The Central Bank of Nigeria (CBN) has bowed to public outcry on the weekly cash withdrawal limits, reviewing individual amounts to 500,000 and corporate withdrawals to N5 million. In […]