President Muhammadu Buhari has announced the extension of the validity of old N200 notes till April 10. Announcing the development in a televised nationwide address on Thursday, the president said all existing old N1000 and N500 notes remain redeemable at the Central Bank of Nigeria (CBN) and designated points “To …Read More »
CBN official bursts Sterling bank branch in Ado Ekiti for hoarding new Naira
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 …Read More »
CBN Increases Weekly Cash Withdrawal Limit
The Central Bank of Nigeria (CBN) has increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500,000 and N5 million, respectively. The directive is contained in a circular issued by the bank on Wednesday and signed by Haruna Mustafa, director of banking …Read More »
Buhari unveils redesigned naira notes.
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 …Read More »
Proposed redesign of the Naira is economic suicide: Sheikh Gumi says
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 …Read More »
Buy dollar with naira, face arrest – CBN warns Nigerians
The Central Bank of Nigeria (CBN) has threatened to arrest and prosecute Nigerians using naira to buy dollars, noting that it is an illegal practice. Godwin Emefiele, governor of the apex bank issued the threat on Tuesday at the Monetary Policy Committee (MPC) meeting in Lagos. Emefiele urged Nigerians illegally …Read More »
CBN’s MPC raises interest rate to 14%.
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised benchmark interest rate to 14 percent. The MPC raised the interest rate to 14 per cent from 13 percent. Godwin Emefiele, governor of the CBN announced the decision at a press briefing on Tuesday. More subsequently..Read More »
Huawei, partners organize job fair for Nigerian youths
As part of its talent cultivation strategy, Huawei Technologies (Nigeria) Limited is set to host a job fair for Nigerian youths. The job fair, scheduled to hold on the 3rd of August, 2022 at the International Conference Centre, Abuja is intended to attract, qualified candidates for job opportunities in IP …Read More »
Central African Republic adopts bitcoin as legal currency.
The Central African Republic has adopted bitcoin as legal tender, the president’s office said Wednesday, becoming the second country in the world to do so behind El Salvador. Lawmakers unanimously adopted a bill that made bitcoin legal tender alongside the CFA franc and legalised the use of cryptocurrencies, and President …Read More »
SEC seals Agropartnerships, Oxford International, Vektr Capital over ‘illegal investment activities.
The Securities and Exchange Commission (SEC), on Monday, sealed the premises of three companies for allegedly engaging in illegal investment activities. The affected companies are Oxford International Group, Farmforte Agro-Allied Solutions Limited/Agropartnerships and Vektr Capital Investment. The apex capital market regulator accused the companies of carrying out capital market activities …Read More »