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The Emir of Kano, Alhaji Aminu Ado Bayero, has cautioned the Central Bank of Nigeria and commercial banks to follow the cashless policy steadily in step-by-step for the people in the country to embrace and familiarize with the new change. The monarch made the call on Tuesday when a team of the Bankers Committee of […]
Continue ReadingWhile the three-month cash shortage rocks Nigeria’s economy and Nigerians, banks that are at the centre of it all may emerge unscathed as almost all their income lines appeared unaffected. Financial experts have been focusing on the likely impacts of the Naira banknote crises on the financial performance of banks as they round up their […]
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The Central Bank of Nigeria on Tuesday raised its benchmark lending rate to 18 per cent in an aggressive push to contain the nation’s inflationary pressure. The CBN governor, Godwin Emefiele, announced this Tuesday after the apex bank’s Monetary Policy Committee (MPC) meeting that began Monday. Addressing journalists at the end of the two-day meeting […]
Continue ReadingThe Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has urged the Governors of Central Banks and other African financial sector regulators to be more vigilant in their regulatory and supervisory. He spoke, today, at the opening of the 2023 African Central Bank Conference, in Johannesburg, South Africa, according to a statement […]
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Lagos State Governor, Babajide Sanwo Olu, has directed residents of the State to go ahead and have transactions with the old Naira notes, saying residents should use the old notes for commercial purposes without any restraint. Sanwo-Olu gave the directive in a letter he wrote and addressed to residents on Monday. The governor said his […]
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The leadership of the Nigeria Labour Congress has issued a seven-day ultimatum to the Federal Government to end the cash crunch in the country President of the Nigeria Labour Congress, Comrade Joe Ajaero issued the ultimatum on Monday in Abuja, at the opening session of the Central Working Committee (CWC) meeting of the labour union. […]
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Governor Abdullahi Ganduje of Kano State has condemned the support of the opposition Peoples Democratic Party and the New Nigeria Peoples Party for the Central Bank of Nigeria’s naira redesign policy. A statement by his Chief Press Secretary, Abba Anwar, said the governor made the remark on Monday while launching the distribution of palliatives to […]
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● We Thank Governor Adeleke for Maintaining Peace-CBN ● We Have Issued Queries to some Banks – CBN The Executive Governor of Osun State, Senator Ademola Adeleke has warned against hoarding of new naira notes by commercial banks, calling on the Central Bank of Nigeria (CBN) to sanction financial institutions involved in such anti-people activities. […]
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Rights activist and Senior Advocate of Nigeria, Femi Falana, has written to the Central Bank of Nigeria demanding details of the amount of new naira notes distributed to commercial banks across the country. He also demanded that the CBN should provide the list of customers who have withdrawn more than the N100,000 maximum sum approved […]
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Amidst the cash crunch ravaging the country, the Central Bank of Nigeria (CBN) has ordered Deposit Money Banks to collect old N500 and N1,000 notes from customers. By implication, every Nigerian that has old N500 and N1000 notes can now take it to banks. Recall many Nigerians in the wee hours of Friday stormed the […]
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