CBN

BREAKING: Reps Take Action Against Fřaudulent POS Operators

The House of Representatives has decided to summon the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, along with the Chief Executive Officers of commercial banks, to discuss solutions to the ongoing issue of unverified Point of Sale (POS) operators across Nigeria. Naturenex reports that this resolution came after the House debated and […]

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Kidnapped Housemaid To Late CBN Staff Breaks Silence After Surviving Being Thrown In A River

Many hours after a staff of the Central Bank of Nigeria named Mr. Kehinde Fatinoye and his wife were set ablaze at their residence in Abeokuta, their housemaid, who was kidnapped alongside the deceased’s son, breaks silence. The housemaid, who was spotted with officers of the Ogun state’s Police command, broke silence saying, “after attacking

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Emefiele Gets 72-hour Ultimatum To Resign Or Be Sacked By Buhari

The Central Bank of of Nigeria (CBN) Governor, Godwin Emefiele, has been issued a 72-hour ultimatum or be removed by President Muhammadu Buhari through the National Assembly. The ultimatum was issued on Friday by over 30 civil society organizations following allegations of “terrorism financing and economic crimes” leveled against the CBN governor by Nigeria’s State

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Massive Protests In Abuja Over Alleged Terrorism Charge By DSS Against CBN Governor

Massive protests have hit the streets of Abuja following the discovery of a suit allegedly filed by the Department of State Service (DSS) wherein it accused Mr. Godwin Emefiele of terrorism financing as well as other crimes it described as economic crimes of national security dimension. The protesters comprising Buhari Legacy Defenders, Arewa Youth Consultative

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‘PoS Operators Are Not Endangered,’ CBN Gives Conditions For Bulk Withdrawal

The Central Bank of Nigeria (CBN) has countered claims that its new policy limiting cash withdrawals is targeted at point-of-sales (PoS) agents in particular. Though the apex bank, on December 6, set the daily withdrawal limit at N100,000 and N500,000 for persons and organisations, respectively, it made allowances for compelling cases to withdraw up to

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“I No Dey Collect”: Fruit Seller Rejects CBN’s New Naira Notes From Customer, Video Of His Action Goes Viral

TikTok users are reacting to a video of a fruit seller who rejected CBN’s newly introduced Naira notes. The fruit seller was captured in a video that went viral on Thursday, December 15 after it was posted by a TikTok user known as Mama. The fruit seller rejected the new Naira notes. Photo credit: TikTok/@dherbie10. Source: UGC The

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House Of Reps Orders CBN To Suspend New Cash Withdrawal Limit

The House of Representatives has asked the Central Bank of Nigeria (CBN) to halt the implementation of the new cash withdrawal policy slated for January 9, 2023 pending compliance with the provisions of the Act establishing the bank. The House also summoned CBN Governor Godwin Emiefele in accordance with the provisions of the Central Bank Act to

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CBN Reveals How POS Operators Can Get More Cash Amid New Withdrawal Limits Policy

The Central Bank of Nigeria (CBN) said point-of-sale (POS) operators can get more cash for their businesses despite the new withdrawal limits announced a few days ago.  The policy limits over-the-counter cash withdrawals by individuals and businesses to N100,000 and N500,000, respectively, per week. It also limits point-of-sale (POS) and automated teller machines (ATMs) to

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Senate President Reacts Over Cash Withdrawal Limit

Senators yesterday expressed reservation over the new Central Bank Nigeria (CBN) policy on cash withdrawals, saying it would make many businesses to collapse in the… Senators yesterday expressed reservation over the new Central Bank Nigeria (CBN) policy on cash withdrawals, saying it would make many businesses to collapse in the country. The apex bank, under

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List Of Approved Bank Electronic Charges As CBN Limits Cash Withdrawals

On Tuesday, December 6, 2022, the Central Bank of Nigeria (CBN) announced fresh cash withdrawal limits on individuals and organisations. The policy will become effective on January 9, 2023, Punch reports. The memo showed individuals will be limited to N100,000 per week in withdrawals (through over-the-counter, point-of-sale, or automated teller machines), while businesses will be

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CBN Policy: ‘How Can You Say I Can’t Access More Than N100,000 In A Week?’ – Adebayo Adams

The Lagos state Chairman of the Nigerian Association of Small and Medium Enterprises, Dr Adebayo Adams, has criticized the recent Central Bank of Nigeria, CBN, policy which limited individual and organization cash withdrawal to a maximum of N100,000 and N500,000 weekly (Punch). Speaking recently in reaction to the policy, Adams declared; “How can you say

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BREAKING: After Naira Redesign, Buhari Makes Crucial CBN Appointments

President Muhammadu Buhari has nominated Edward Adamu, the director of human resources as the deputy governor of the Central Bank of Nigeria (CBN). Also, the president on Tuesday, December 6, nominated Aisha Ndanusa Ahmad as the apex bank’s deputy governor in another department, Vanguard reports. The president’s nominations letters were read by Senate president Ahmad

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CBN Governor Emefiele To Be Arrested? Senate Issues Threat With Reason

Following what the Senate described as uneven disbursement of N500 billion development fund across the six geo-political zones, it has threatened to issue arrest warrants on the governor of the Central Bank of Nigeria, Godwin Emefiele. The Senate’s Adhoc committee on the issues on Wednesday, November 30, also threatened to issue an arrest warrant on the

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CBN: Tinubu Support Group Seeks Court Order Against Emefiele

A group under the aegis of South-South Agenda for Tinubu/Shettima (SSAT), one of the APC/Tinubu Support Groups in the South-South has announced that their legal battle to seek judicial reprieve for the suspension of the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele from office will commence this week at a Federal High Court, Abuja.

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Emefiele States Why Naira Is Falling, Reveals When National Card Will Commence

The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has blamed the number of Nigerian students seeking foreign education for the depletion of the foreign reserves. Reports say the official foreign exchange received from crude oil sales into Nigeria’s reserves has depleted steadily from over $3 billion monthly in 2014 to zero dollars in 2022, according

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