Banking

The Central Bank of Nigeria (CBN) says the old N200, N500 and N1000 notes remain legal tender until December 31, 2023. Isa Abdulmumin, CBN spokesperson, announced the development in a statement on Monday. “In compliance with the established tradition of obedience to court orders and sustenance of the Rule of …

The Supreme Court of Nigeria has restrained the Federal Government from implementing the February 10 Deadline for the old 200, 500, and 1000 naira notes to stop being legal tender. Three Northern States, Kaduna, Kogi, and Zamfara, had in a motion ex-parte filed on February 3rd, prayed to the apex …

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has arrested the Regional and Service managers of Sterling Bank Plc in the federal capital territory for hoarding N258 million of the new naira notes. The commission, in a statement made available to us on Tuesday night said …

A Deputy Director of the Central Bank of Nigeria (CBN), has exposed a branch of Sterling Bank in Ado Ekiti, Ekiti State for hoarding the new Naira notes. The CBN official who identified himself as Owoeye paid a surprise visit to the bank on Bank Road, Ado Ekiti and found …

The Central Bank of Nigeria (CBN), earlier in its quest to reduce the number of Nigerians excluded from financial services from 46.3% to 20.0% by the year 2020 based on its earlier commitment to the Maya Declaration, had in October 2012 set up the National Financial Inclusion Strategy (NFIS). A …

A total sum of N53 million in prize money was won at the end of a keenly contested hackathon session at the Second Edition of the Zenith Tech Fair, themed “Future Forward 2.0”, which was held on Wednesday, November 23, 2022, at the Eko Convention Centre, Eko Hotels & Suites, …

President Muhammadu Buhari unveiled the redesigned naira notes of N200, N500, and N1000 at the Council Chamber of the Presidential Villa Abuja on Wednesday. according to the News agency of Nigeria (NAN), the unveiling of the naira notes preceded the virtual meeting of the Federal Executive Council (FEC) with a …

Influential Kaduna Muslim cleric, Sheikh Ahmad Gumi, has condemned the move by the Central Bank of Nigeria to redesign three series of the Naira. Gumi described the CBN move as economic suicide for Nigerians, especially rural dwellers. The controversial Sheikh argued that the introduction of Naira redesign policy was ill-timed and …

The Central Bank of Nigeria (CBN) on Wednesday announced plans to redesign the 200, 500, and 1,000 naira notes. CBN Governor, Godwin Emefiele, disclosed this during a special press briefing in Abuja. Emefiele said the redesign will take effect from Thursday, December 15, 2022. He also said that existing notes …

Tranzfar, an international payment solution provider focused on cross-border money transfers from the United Kingdom, United States, 27 EU countries, Canada, New Zealand and Australia to Nigeria, Ghana and Kenya has recently launched its latest innovative product ‘The Freedom bank Account’ in Nigeria.   The Freedom Account allows customers in …