Just In: CBN revokes licenses of over 4,000 Bureau De Change (BDC) operators The Central Bank of Nigeria (CBN) on Friday revoked the license of 4,173 bureaux de change (BDC) operators. CBN’s spokesperson Hakama Sidi Ali announced this in a statement. Sidi Ali said the affected institutions listed on the CBN website failed to comply...
Old naira notes remain legal tender – CBN The Central Bank of Nigeria (CBN) has disclosed that the old naira banknotes will remain a legal tender. In October 2022, the apex bank introduced the redesign of N200, N500 and N1,000 denominations and certain deadlines were set for the old notes of these denominations to cease...
Naira hits 1060/$ as MAN kicks at policy reversal The crises festering in Nigeria’s currency exchange market doubled down yesterday with the local currency depreciating further across all segments of the market. The market yesterday indicated that the Naira went down from N1,100 to USD1.0 mid-day in the parallel market before settling at N1,060 in...
Man Shows Off The Bag Of N2 Coins He Received From The Bank Instead Of N5,000 Note. The young man fears that the country is going into extinction, as we have started spending coins again. View this post on Instagram A post shared by FG (@featuredgist)
House Of Representatives moves to arrest Emefiele; rejects CBN’s deadline extension on old naira notes House of Representatives committee on the recoloured naira notes says it will go ahead to sign an arrest warrant against Central Bank governor Godwin Emefiele. In a statement, chairman of the ad-hoc committee, Alhassan Ado Doguwa, said “the 10-day extension for...
Stampede occurs as Nigerians tackle CBN deadline on new cash swap Nigerians, from all parts of the country, will enter this weekend agitated and confused over the currency redesign policy of the Central Bank of Nigeria (CBN). While banks remain open to receive old notes till Tuesday, January 31, scarcity of new naira notes and...
The Central Bank of Nigeria’s boss (CBN) Godwin Emefiele offered N1 billion bribe to get its N2.4 trillion 2023 budget passed, a federal lawmaker, Gudaji Kazaure has alleged. In an explosive viral video, Kazaure who represents Yankwshi/Roni, Gwiwa/Kazaure Federal Constituency in the House of Representatives, has accused Emefiele of planting men in strategic positions at...
CBN to monitor redesigned Naira compliance by commercial banks The Central Bank of Nigeria (CBN) will monitor commercial banks to ensure that they comply with the directive of loading the redesigned Naira notes in their Automated Teller Machines (ATMs). CBN Director, Currency Operations, Mr Ahmed Umar, made this known in Abuja on Monday at the...
