The total amount of currency-in-circulation in the country dropped from N3.29tn as of the end of October 2022 to N1.38tn as of the end of January 2023 as a result of the naira redesign policy of the Central Bank of Nigeria. Figures obtained from the CBN showed this represents a drop of N1.91tn in the…
The old N200, N500 and N1000 notes ceased being legal tender since February 10, 2023, the Central Bank of Nigeria (CBN) has declared. This is coming despite the ruling of the Supreme Court in Abuja that banned the apex bank from implementing the February 10 expiration date for the old notes. Haladu Idris Andaza, CBN’s…
The old N200, N500 and N1000 notes ceased being legal tender since February 10, 2023, the Central Bank of Nigeria (CBN) has declared. This is coming despite the ruling of the Supreme Court in Abuja that banned the apex bank from implementing the February 10 expiration date for the old notes. Haladu Idris Andaza, CBN’s…
The Central Bank of Nigeria (CBN) has directed deposit money banks (DMBs) to commence the payment of the redesigned Naira notes over the counter, subject to a maximum daily payout limit of N20,000. Director Corporate Communication, CBN, Osita Nwanisobi disclosed this in a statement adding that the apex bank will collaborate with the Nigeria Police, Federal…
Nigerians with old notes can still deposit them at commercial banks even after the February 10 deadline, this is according to the Central Bank Governor, Godwin Emefiele. Emefiele stated this on Tuesday while appearing before the House of Representatives ad hoc committee. It would be recalled that the lawmakers had accused Emefiele of breaching section…
Chairman of the Federal Inland Revenue Service (FIRS) Mohammad Nami has said the award given him by the management of LEADERSHIP Group Limited, publishers of LEADERSHIP Newspapers and NATIONAL ECONOMY is in recognition of the hardworking and tireless staff of the service. Mr Nami made the remarks on Thursday when the management team of the…
The Federal Inland Revenue Service as we know it is the federal government agency charged with mobilizing revenues through tax collections across the length and breadth of Nigeria for the development of the country. At a time when the country is witnessing a significant reduction in oil revenues (Nigeria’s major revenue earner) as a result…
By:Chukwudi Enekwechi The Federal Inland Revenue Service as we know it is the federal government agency charged with mobilizing revenues through tax collections across the length and breadth of Nigeria for the development of the country. At a time when the country is witnessing a significant reduction in oil revenues (Nigeria’s major revenue earner) as…
