Cash Scarcity: What’s CBN Hiding From Nigerians?
With the passage of time and events, we may not have to argue this anymore: Nigeria’s cash crises of late 2022 and early 2023 had serious effects on the living and the
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Naira Redesign: ‘Believe It Or Not, Nigeria Is Underdeveloped Country’ – Buhari
Former President Muhammadu Buhari has maintained that he did his best in the eight years that he governed Nigeria, adding that his approval of the Naira redesign policy formulated by the Godwin
CBN Naira Redesign Policy Deteriorates Business Condition – Stanbic IBTC
A new report by Stanbic IBTC has shown that the Naira redesign policy of the Central Bank of Nigeria (CBN) has negatively impacted the Nigerian economy. The report, which covers February and
CBN Hijacked State Power, Confiscated The Naira, Says Stanbic IBTC Owner, Peterside
Owner of Stanbic IBTC, Atedo Peterside at the weekend said the Central Bank of Nigeria (CBN) actually hijacked the powers of the state by confiscating the naira in the guise of currency
IMF Calls For Review Of CBN Act 2007, Demand Release Of Financial Statements
The Central Bank of Nigeria (CBN) Act 2007 needs to be reviewed to align with international best practices, the International Monetary Fund (IMF) observes. IMF stated in its latest Report – ‘Nigeria:
Security, Corruption At A Stake With New Cash Policy – President Buhari
President Muhammadu Buhari insists that the cashless policy and Naira swap by the Central Bank have short and long term benefits for the country in dealing with insecurity and corruption, but agrees
‘Your Stolen Funds Now Worthless’ – Presidential aide Replies Govs El-Rufai, Ganduje
Presidential aide, Bashir Ahmad, on Thursday hit back at Kaduna State Governors Nasir El-Rufai and his Kano State counterpart, Abdullahi Ganduje, for opposing the currency reissue policy of the Federal Government. Ahmad,
Naira Scarcity Protest: Obaseki Calls For Calm, Assures Adequate Security
Edo State Governor, Mr Godwin Obaseki, has called for calm among residents of Edo State, as security operatives have been deployed to protect banking assets in the state to ensure the disbursement
Nigeria’s Inflation Rate Hits 21.82%, As Naira Scarcity Disrupts Trade, Hikes Prices
The National Bureau of Statistics (NBS) has revealed that Nigeria’s inflation rate soared to 21.82 per cent in January 2023, as the country struggles with Naira scarcity. According to the latest consumer
Naira Redesign: Revoke Central Bank Office’s C of O – Shehu Sani To Ganduje
The former Kaduna State lawmaker, Shehu Sani, has reacted to the clampdown on commercial banks by the Kano State government over the Naira redesign policy. Governor Abdullahi Ganduje of Kano state had
Foreign Representatives Meet CBN’s Emefiele Over Naira Redesign Chaos
Diplomatic Corps met with the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Tuesday, 14 February 2023, amid the Naira redesign policy that has caused chaos within the country.
CBN Reveals Three Steps To Deposit Old Naira Notes, Says Commercial Banks Will Not Accept It
The Central Bank of Nigeria (CBN) has stated that old Naira notes can only be deposited at the apex bank, disclosing that commercial banks will no longer accept them. In a statement
Naira Redesign: Falana Tackles Emefiele, Says CBN Incites Nigerians Against Banks
Godwin Emefiele-led Central Bank of Nigeria (CBN) has been criticised by human rights lawyer, Femi Falana, over the handling of the Naira redesign policy. He accused the central bank of inciting the public
Cash In Circulation Outside Banks Drops By N160 billion – New CBN Data Reveals
The currency outside the banking system has declined to N2.57 trillion, the Central Bank of Nigeria (CBN) has disclosed in the latest data published on its website. Prime Business Africa had reported
Pres. Buhari Meets CBN’s Emefiele As Naira Scarcity Lingers
President Muhammadu Buhari and the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, met on Monday, 13 February 2023, as discussion on the failure of the Naira redesign policy continues.
CIBN Addresses Report Of Banks’ Collapse, NSPMC Inability To Print New Naira Notes
The President and Chairman of the Chartered Institute of Bankers of Nigeria (CIBN), Ken Opara, has allayed fears that some Nigerian banks could completely shut down following the failure of the Naira
Akeredolu, Ganduje Sue FG, As Battle Against CBN’s Naira Redesign Policy Intensifies
Ondo State Governor, Rotimi Akeredolu, and the Governor of Kano State, Abdullahi Ganduje, have also filed a suit against the Federal Government over the Central Bank of Nigeria’s (CBN) Naira redesign policy.
Naira Scarcity: Nigerians Have Been Betrayed By Banking System – TUC Says, Threatens FG
The Trade Union Congress (TUC) said Nigerians have been betrayed by the banking system due to the failure of the Central Bank of Nigeria (CBN) to successfully implement the Naira redesign policy.
Godwin Emefiele’s CBN Faults Nigerians For Naira Scarcity
Nigerians have been faulted for the scarcity of the Naira notes, as the Central Bank of Nigeria (CBN) said releasing more banknotes won’t solve the situation. The apex bank said Nigerians need
Obaseki To El-Rufai: You Can’t Speak For 36 Govs On CBN’s Naira Policy
Governor Godwin Obaseki of Edo State has warned Governor Nasir El-Rufai of Kaduna State to guard his utterances and avoid incensing comments on the Central Bank of Nigeria’s Naira policy to avoid
UPDATED: IMF, World Bank Warn CBN On Naira Transition Timeframe
The International Monetary Fund (IMF) and the World Bank have cautioned the Central Bank of Nigeria (CBN) over its handling of the transition from the old Naira to new banknotes. Nigeria’s financial
AGF Seeks S’Court’s Dismissal Of Suit Challenging CBN’s Naira Policy
Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, has asked the Supreme Court to dismiss a suit filed by three state governments challenging the deadline for phasing out
VIDEO: Female Student Suffers Panic Attack In Access Bank, Security Snubs Her
A female student allegedly suffered a panic attack at the Access Bank branch in Rivers State University, Port Harcourt, as Nigerians struggle to access their money from banks across the country. In
CBN, Banks Don’t Have Infrastructure For New Naira Transition – Dakuku Peterside
The former Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dakuku Peterside, has disclosed that the Central bank of Nigeria (CBN) and the Deposit Money Banks (DMB) don’t have
CBN Failed In Duty To Manage Naira Redesign Policy – Dakuku Peterside
The former Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dakuku Peterside, said the Central Bank of Nigeria (CBN) failed in its duty to manage the transition from the
NACCIMA DG Says Printing N5,000 Notes Better, Faults Emefiele’s Naira Redesign Policy
The Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Sola Obadimu, has suggested that the introduction of N5,000 notes would have prevented the Naira policy debacle.
Naira Scarcity: Bankers In Viral Video Flee Angry Customers Through Back Fence
Bankers in Delta State took turns to scale the bank fence to flee attacks after customers showed readiness to violently protest naira scarcity and failure to facilitate over-the-counter and electronic cash withdrawals.
Nigerians Divided Over Who To Blame For CBN’s Naira Redesign Crisis
Nigerians are divided over who to blame for the crisis that has erupted from the transition from the old Naira to the redesigned banknotes. Prime Business Africa reported that Nigerians are stripping
Naira Redesign: Fidelity Bank Assures Customers Of Cash Payment
The management of Fidelity Bank Plc has assured customers of cash payment across all its branches nationwide. Head of Corporate Communication of the bank, Dr. Meksley Nwagboh, said this in a statement
Nigeria’s GDP At Risk, As Transition From Old Naira To New Affects 2 Major Sectors
The founder of the Centre for the Promotion of Private Enterprise (CPPE), Muda Yusuf, said sectors driven by cash are struggling with the transition from old Naira notes to redesigned banknotes. Yusuf identified
Naira Redesign Targeted At Curbing Counterfeit, Illicit Funds Hoarding – Buhari
As Nigerians grapple with the naira redesign and cash withdrawal limit policies introduced by the Central Bank of Nigeria (CBN), President Muhammadu Buhari has said measures were being put in place to ensure that the citizens are not affected in their businesses
Naira Redesign: Commuters Stranded As Traders, Artisans Reject Old Notes In Enugu
By Ndidiamaka Ede & Makwe Nkiruka The unavailability of the new naira notes has caused palpable uneasiness among commuters in parts of Enugu State. Traders, artisans, and POS operators have stopped collecting old notes for almost a week now for fear of
4 Major Issues That Will Shape Nigeria In 2023
As the year 2022 winds down there are apprehensions in the air as to how 2023 will look like in various areas in Nigeria with regard to issues and events coming up and how they will likely define the socio-economic and political
German Embassy Rejects Old Naira Notes Before CBN’s Deadline
The German Embassy has disclosed that it will stop accepting old naira notes before the deadline set by the Godwin Emefiele-led Central Bank of Nigeria (CBN). Prime Business Africa had reported that the central bank redesigned the naira and announced that the
CBN’s New Cash Withdrawal Limit Pushing Cashless Policy Too Hard, Says Dr Mbamalu
The Central Bank of Nigeria’s new cash withdrawal limits for daily and weekly transactions is unsustainable but will speed up cashless policy adoption by Nigerians. Dr Marcel Mbamalu, CEO of Newstide Publications Limited, publishers of Prime Business Africa, expressed this view on
Naira Reissue To Flush Out Counterfeit From Circulation – CBN
The Central Bank of Nigeria (CBN) has explained that the Naira notes redesign policy it recently introduced would help to remove fake currency in circulation and discourage hoarding of cash by members of the public. The apex bank is of the view
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