Debtors of the Federal Government’s loan and empowerment schemes are about to be in shock as the Central Bank of Nigeria has given an instruction to banks to follow up and recover all unrepaid loans borrowed from the Apex bank. In a bold departure from its previous role in direct development financing, the Central Bank…
Once upon a time in Nigeria, there was a rise in the amount of money being held outside of banks. The Central Bank of Nigeria, the guardian of the country’s monetary system, released the latest figures that revealed this interesting trend. According to figures that were obtained from the Central Bank, the amount of currency…
The Central Bank of Nigeria on Thursday began the disbursement of old naira notes to Deposit Money Banks as government authorities stepped up efforts to end the biting currency scarcity that has inflicted pain on millions of bank customers nationwide. The central bank had directed DMBs to pick old N1,000, N500 and N200 notes at…
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has dismissed allegations that he had launched a fresh plot against the president-elect, Asiwaju Bola Ahmed Tinubu. A media platform had earlier reported that N500 million windfall was mobilised through high-level CBN agents in Lagos State. The report added that the money was described as…
The Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, Sola Obadimu, says the Central Bank of Nigeria should have introduced a N5,000 note rather than redesigning the old notes. Obadimu said this in an interview with the News Agency of Nigeria in Abuja on Monday. He said while the new policy…
The Central Bank of Nigeria, Bauchi State, says it allocates N30 million new naira notes daily to each branch of banks in the state to increase access of customers to the new notes. An official of the apex bank, Mr Abdulkadir Jibrin, said this while monitoring banks in Bauchi on Monday to ensure access to…
The Central Bank of Nigeria (CBN) has assured marketers and traders that it has made the redesigned naira notes (1000, 500, 200) available for them via Automated Teller Machines (ATMs). The Branch Controller, CBN, Lagos State, Mr Koyor Baribokola, gave the assurance when the apex bank took its sensitisation tour on the new naira notes…
The CBN warned in Abuja on Tuesday that those abusing the naira were liable to go to jail. It warned that the law banning the “spraying’’ and the stepping on the naira, especially at social gatherings is still in force and offenders are liable to six months imprisonment or a fine of N50,000. The News…
