A leading Nigerian journalist, Rufai Oseni, has reacted to news of allegedly fake N1000 notes in circulation. Speaking on VOP, Oseni revealed vital information regarding how to avoid the fake Naira notes. Addressing the topic, Oseni said, “Money counterfeiting will always happen, but people have to look for the security Read more…
Already, the redesigned Naira Notes that recently entered into circulation have been faked and are now spreading across Nigeria. A businessman (name withheld) shared a clip of his wife’s experience in the hands of fake money peddlers who came to her Point of Sale, P.O.S stand to deposit cash. He Read more…
As citizens continue to grapple with the new cash withdrawal policy imposed by the Central Bank of Nigeria (CBN), reactions have begun trailing a picture showing how people have begun to abuse the new Naira notes released Into circulation by the apex financial institution barely 24 hours ago. Recall that Read more…
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 Read more…
Mixed reactions greeted the disbursement of the new naira notes that officially went into circulation on Thursday with many bank customers demanding for the new notes while a few others snubbed the latest bills in banking halls across major Nigerian cities. The newly redesigned N1,000, N500 and N200 bills finally Read more…
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 more…
Human rights lawyer, Femi Falana, on Sunday faulted the recent endorsement of the naira redesign by President Muhammadu Buhari, saying the policy may be declared illegal in court. The Central Bank of Nigeria (CBN) on October 26 said it will redesign the N200, N500, and N1,000 notes to take control 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 Read more…
President Muhammadu Buhari has said his administration will not go back on the plan of the Central Bank of Nigeria (CBN) to redesign the nation’s highest currency notes of N1,000, N500, and N200. Buhari said this on Wednesday evening in London, UK, shortly after meeting with King Charles III at 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 Read more…
Days after the Central Bank of Nigeria announced the redesign of the N1,000, N500 and N200 notes, with a directive that the current notes be remitted to the commercial banks, wealthy individuals and organisations with huge cash stashed away have begun depositing them, Saturday PUNCH can report. Our correspondents gathered Read more…
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. 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 Read more…
Three serving state governors are being monitored over their moves to launder stashed billions of naira through table payment of salaries to workers, Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, told DailyTrust on Thursday. He said raid on Bureau De Change operators will be sustained, urging Nigerians to Read more…
Nigerians are rushing to beat the deadline of January 31, 2023, set by the Central Bank of Nigeria (CBN) to cease the circulation of old naira notes. The CBN said it is introducing newly redesigned N200, N500 and N1,000 notes by December. The announcement by the CBN has put pressure on currency hoarders who Read more…