By Jonathan Ugbal Nigeria’s president, Muhammadu Buhari on Thursday morning directed the extension of the use of the old NGN200 notes until April 10, 2023. President Buhari gave the directive in an unusual national broadcast following reports of confusion and crisis over the utilization of the old and redesigned NGN200, NGN500, and NGN1000 notes. “I
By Theophilus Adedokun, The ICIR Thirteen of the 18 registered political parties in Nigeria have threatened to withdraw from the 2023 general elections over the naira redesign policy of the Central Bank of Nigeria (CBN). The political parties said they will withdraw from the election if the CBN extends the February 10 deadline for use
By CrossRiverWatch Admin The Central Bank of Nigeria (CBN) has bowed to public pressure and extended the deadline for the use of the old notes till February 10, 2023. CBN Governor, Godwin Emefiele, made this known while granting Journalists an audience on Sunday 29th January 2023. Godwin said the apex bank had the approval of
By James Emejo, ThisDay Newspaper The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, Thursday launched the Nigerian National Domestic Card scheme that will among other things, avail Nigerians the sovereignty of their data, lower costs of transactions, and address challenges in foreign exchange usage. Emefiele said at a time when foreign
By James Emejo, This Day Newspaper In compliance with the Central Bank of Nigeria’s (CBN) currency redesign and cash withdrawal policy that limited withdrawals across all channels to N500,000 weekly, banks have suspended further cash disbursement via customers’ Naira Credit and prepaid cards. This Day Newspaper learnt that as a result, the banks have informed customers
By Bakare Majeed, Premium Times The House of Representatives has summoned the Central Bank of Nigeria Governor, Godwin Emefiele, over the new restrictions on cash withdrawals. The House resolved that Mr. Emefiele should appear before it next Thursday. The decision to summon Mr. Emefiele followed a motion of matter of urgent public importance moved by
By Gbenga Oloniniran, Punch Newspaper …to limit POS withdrawals to N20,000 daily The Central Bank Of Nigeria has imposed fresh cash withdrawal limits on individuals and organizations, which takes effect from January 9, 2023. According to a new memo to banks issued on Tuesday and signed by the Director of Banking Supervision, Haruna B. Mustafa,
By Jonathan Ugbal Six years after the March 11, 2016, explosion that rocked the Calabar branch of the Central Bank of Nigeria, the country’s apex bank is yet to investigate the incident and make effort to pay claims by families of the victims of that unfortunate incident. Findings by CrossRiverWatch shows that the leadership of