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 […]
Senate President Reacts Over Cash Withdrawal Limit Read More »
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
List Of Approved Bank Electronic Charges As CBN Limits Cash Withdrawals Read More »
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
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
BREAKING: After Naira Redesign, Buhari Makes Crucial CBN Appointments Read More »
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
CBN Governor Emefiele To Be Arrested? Senate Issues Threat With Reason Read More »
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.
CBN: Tinubu Support Group Seeks Court Order Against Emefiele Read More »
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
Emefiele States Why Naira Is Falling, Reveals When National Card Will Commence Read More »
The Central Bank of Nigeria Governor, Godwin Emefiele has explained the features of the redesigned notes. Emefiele told State House Correspondents that it was in line with global best practices, noting that it was mandatory for the naira to be redesigned and re-issued every five to eight years. According to him, it is regrettable that
CBN Governor Emefiele Explains Features Of New Naira Notes Read More »
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has said that the Central BANK will restrict the amount of money individuals can redraw from their account. According to GREENBARGE REPORTERS, he said, “We will restrict the volume of cash that people can withdraw over the counter. “If you need to withdraw large
CBN To Restrict Amount Of Money Individual Can Withdraw From Account Read More »
The Central Bank of Nigeria plans to reduce the number of N500 and N1000 notes in circulation to curb inflation. The governor of the Central Bank of Nigeria, Godwin Emefiele, disclosed this during the Monetary Policy Committee meeting o November 22, 2022. Plans to introduce lower denomination underway The CBN helmsman was responding to questions
CBN To Reduce Number Of N500 And N1000 In Circulation Read More »
The Central Bank of Nigeria (CBN) recently gave Nigerians less than 100 days to ‘dispose’ of the old banknotes in their possession following the announcement of the redesign of the N1000, N500, and N200 naira notes. Although the monetary policy aims to reduce the amount of money outside of the banking system and rein in inflation, the
In response to the Central Bank of Nigeria‘s (CBN) plan to redesign and issue new naira notes from December 15, Access Bank has urged its customers to make use of its alternative channels to deposit their existing naira notes in order to beat the rush pending the circulation of new ones. In a message to customers
Naira redesign: Access bank provides alternative channel for cash deposits Read More »
Central Bank of Nigeria (CBN) has directed that individuals can only deposit N5million for new accounts and N50million for old accounts in one month. CBN Director of Currency, Ahmed B. Umar,who issued the directive said that individuals will not be allowed to deposit more than N5 million if the transaction involves a new account in
New Naira: CBN Limits Cash Deposits For Individual Accounts Read More »
