February 07, 2023
Nigeria: 3 Days to Go - Cash Crunch Worsens, Banks Defy CBN On N20,000 OTC Payment
The cash crunch in the country worsened yesterday barely three days to the February 10 extended deadline for cash swap, as mammoth crowds continued to swamp banking halls and… Read more »
February 06, 2023
Nigeria: Court Stops Buhari, CBN, Others From Suspending Currency Swap Policy
An High Court of the Federal Capital Territory (FCT), on Monday, restrained President Muhammadu Buhari, Central Bank of Nigeria (CBN), the Governor of CBN and 27 commercial banks… Read more »
February 03, 2023
Nigeria: Naira Swap - Pains Will Soon Be Over, Federal Govt Assures Nigerians
Federal government has said the pains being experienced by Nigerians in their bid to swap the old naira for the re-designed ones is regrettable and transient but necessary for the… Read more »
February 02, 2023
Nigeria: Naira Swap - Bank Chiefs Challenge CBN On Quantity of New Notes
The cash crunch that hit most banks in the country since Monday, January 30, 2023 continued yesterday as banks said they have not been getting enough cash from the Central Bank of… Read more »
January 31, 2023
Nigeria: Currency Swap Deadline - CBN Seeks Enlightenment for Rural Communities
Officials of the Central Bank of Nigeria (CBN) have asked traders at Yola town market to take the message of the federal government's extension of the return of old naira notes to… Read more »
Nigeria: Bankers, Syndicates Accused of Selling New Naira Notes
Department of State Services (DSS) has intercepted bank officials among the syndicates, who specialise in trading in the new naira notes around the country. Read more »
January 30, 2023
Nigeria: Money Market - Cutting Dollar Spending With Afrigo, Nigeria's Domestic Card
Last week, the Central Bank of Nigeria(CBN), in collaboration with the Nigeria Inter Bank Settlement System (NIBSS) unveiled Afrigo Pay, Nigeria's own domestic card, putting a… Read more »
January 27, 2023
Nigeria: CBN Takes Currency Swap to Akwa Ibom Communities
Determined to ensure effective mop up of the old currency notes (N200, N500 and N1,000) as they cease to become legal tenders on Tuesday, January 31, 2023, the Central Bank of… Read more »
Nigeria: Traders, Beggars Reject Old Naira Notes in Kebbi
Petty traders, motorcyclists, beggars and fuel attendants in Birnin Kebbi, the capital of Kebbi State have joined others in rejecting old naira notes. Read more »
Nigeria: CBN Bans Dollar Payment for Domestic Transactions, Launches 'Afrigo' Card
The Central Bank of Nigeria (CBN) has said it will no longer allow payment for dollar charges on transactions made within Nigeria either with the newly introduced National Domestic… Read more »
January 25, 2023
Nigeria: New Naira Notes - NASS Fumes As CBN Insists On January 31 Deadline
Against expectation, the Central Bank of Nigeria (CBN) has said the January 31, 2023 deadline for the higher denominations of old banknotes to cease to function as legal tender… Read more »
January 24, 2023
Nigeria: CBN Insists No Deadline Extension for Old Naira Notes, Increases Interest Rate to 17.5 Percent
The Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has said that the apex bank will not extend the January 31, 2023 deadline for the old version of the redesigned… Read more »
January 22, 2023
Nigeria: CBN Deadline - Only 4 Out 17 LGAs Have Banks in Yobe, Gov Buni Cries Out
Yobe State governor, Hon. Mai Mala Buni, has appealed to the Central Bank of Nigeria (CBN) to give a special concession and alternatives to the people of Yobe against the backdrop… Read more »
January 23, 2023
Nigeria: Central Bank Takes Naira Sensitisation to Kaduna, Zamfara, Stresses Deadline
The Central Bank of Nigeria (CBN) at the weekend in carried out sensitisation on the redesigned Naira notes to Abubakar Mahmud Gumi central market, Kaduna and Central Market in… Read more »
December 23, 2022
Nigeria: Cash Withdrawal Limit, Naira Redesign Not Political - CBN
The Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has given assurance that the recent policy of the bank, including the cash withdrawal limit and the redesigning of… Read more »
December 22, 2022
Nigeria: CBN Bows to Pressure, Reviews Cash Withdrawal Policy
Following the ruckus generated by the new cash policy of the Central Bank of Nigeria (CBN), the apex bank has revised upward weekly cash withdrawals for individuals and corporate… Read more »
December 08, 2022
Nigeria: CBN's New Cashless Policy Counterproductive for Petty Trading - Metuh
Former national publicity secretary of Peoples Democratic Party (PDP) Chief Olisa Metuh has said the new cashless policy by the Central Bank of Nigeria (CBN) is counter productive… Read more »
November 25, 2022
Nigeria: CBN's Revised Financial Inclusion Strategy Will Improve Lives - Queen Maxima
Her Majesty Queen Maxima of the Netherlands and United Nations secretary-general's special advocate for inclusive finance for development has said managing economic shocks remains… Read more »
October 20, 2022
Nigeria: Bailout - Federal Govt Reviews CBN's Plan to Begin Deduction From States
In a move to explore how to provide further financial succour for States regarding repayment of the Federal Government's Budget Support Facility, the National Economic Council… Read more »
Nigeria: CBN, AMCON Announce Sale of Polaris Bank
The Central Bank of Nigeria (CBN) and the Asset Management Corporation of Nigeria (AMCON) have formally announced the completion of a Share Purchase Agreement (SPA) for the… Read more »
October 16, 2022
Nigeria: CBN Begins Grassroot eNaira Adoption With 7,740 Agent Points
Central Bank of Nigeria (CBN) has begun an inclusive campaign for grassroot adoption of its digital currency, eNaira. Read more »
October 10, 2022
Nigeria: Don't Borrow From Us to Fund Forex, Auctions, CBN Warns Banks, Others
The Central Bank of Nigeria (CBN) has warned commercial banks as well as authorised dealers to desist from accessing its discount windows to fund foreign exchange as well as… Read more »
September 27, 2022
Nigeria: Experts Project Rates Hike As CBN Holds MPC Meeting
As the Central Bank of Nigeria (CBN) holds its Monetary Policy Committee (MPC) announces its policy decisions today, some stakeholders project a hike in policy rates. Read more »
August 30, 2022
Nigeria: Banks' Equity Returns, Loans to Rise 23%, 16.5% in 2022 - Report
Despite the harsh operating environment and high running costs in an election year, commercial banks in Nigeria are projected to grow their pre-tax return on equity by 23 per cent… Read more »
August 23, 2022
Nigeria: Stakeholders Lament CBN's Interest Rate Reversal On Intervention Loans
The Central Bank of Nigeria's (CBN) decision to revert interest rate on its Covid-19 intervention facilities has drawn the ire of stakeholders as well as experts, whose thoughts… Read more »