Tag Archives: CBN

The Central Bank of Nigeria on Thursday began the disbursement of old naira notes to Deposit Money Banks as government authorities stepped up efforts to end the biting currency scarcity that has inflicted pain on millions of bank customers nationwide. The central bank had directed DMBs to pick old N1,000, …

The President of the Nigeria Labour Congress, Joe Ajaero, Thursday, received a delegation from the Central Bank of Nigeria led by the bank’s Deputy Governor, Economic Policy Directorate, Dr Kingsley Obiora. The NLC announced this in a post on its Facebook page. The PUNCH reports that the NLC said it …

The House of Representatives has urged the Central Bank of Nigeria to direct banks to immediately overhaul their electronic transaction platforms. According to the House, the move has become necessary in the aftermath of the recent CBN policies, which have put pressure on online and electronic banking. The CBN had …

The Central Bank of Nigeria has finally concluded plans to release all N1,000, N500 and N200 notes in its custody to Deposit Money Banks, The PUNCH can report authoritatively. This decision is expected to end months of hardships and pains Nigerians have been going through following a controversial CBN naira …

The leadership of the Nigeria Labour Congress on Wednesday directed all workers to protest at all the offices of the Central Bank of Nigeria nationwide starting next week over the current cash crunch in the country. The NLC President, Joe Ajaero, who gave the directive at an ongoing press briefing …

The Nigerian Labour Congress on Wednesday officially declared a nationwide strike over the scarcity of cash in the country. The national president of the union, Joe Ajaero, gave the directive during a media briefing in Abuja. He also directed that affiliate unions constituting the NLC should be on standby for …

  Damilola Aina, Abuja The Monetary Policy Committee of the Central Bank of Nigeria has voted to increase the benchmark interest rate by 50 basis points to 18. per cent, The PUNCH reports. The CBN Governor, Godwin Emefiele, disclosed this while reading the communiqué of the second MPC meeting of …

The currency in circulation in the country dipped by a 235.03 per cent to N982.09bn at the end of February from N3.29tn at the end of October 2022, on the back of the naira redesign policy of the Central Bank of Nigeria. Figures obtained from the CBN revealed that N2.3tn …

A group, Africa’s Young Entrepreneurs, has said the new naira/cashless policy of the Central Bank of Nigeria has destroyed many businesses. In an open letter to the CBN Governor, Godwin Emefiele, and signed by the President of AYE, Dr Summy Smart-Francis, he lamented that the policies made it extremely difficult …

The Coalition of Northern Groups has described the response of the Presidency, ordering the Central Bank of Nigeria to obey the rulings of the Supreme Court, as deceptive and insincere. The CNG said it was curious that days after the said directive by the President, the naira scarcity situation showed …