30 results
- 19 Apr 2016
Banks, New Naira Notes and ‘Owambe’ Parties
The habit has been with Nigerians for decades. It is not about to change soon. However, in 2007, financialtechnology magazine in its maiden edition published a two-page story on the illegal…
- 30 Aug 2019
CBN Orders Banks to Exchange Bad Naira Notes for New Ones on Monday
The Central Bank of Nigeria (CBN), has told Nigerians to take all their torn and mutilated Naira notes to the banks on Monday in exchange for clean naira notes. The deadline for such exchange…
- 21 Mar 2014
Reps Finger CBN in Bribe for New Naira Notes Trade
The House of Representatives yesterday, blamed members of staff of the Central Bank of Nigeria (CBN) for growing trading in new Naira notes. In a resolution in Abuja, the House said there was a…
- 14 Aug 2013
CBN to Circulate New Naira Notes in September
Central Bank of Nigeria will take delivery of new naira notes before the end of September for circulation, according to Dr Tunde Lemo, deputy governor, Operations, of the apex bank. CBN has earlier…
- 25 Jan 2023
CBN Debunks Scarcity of New Naira Notes
Central Bank of Nigeria (CBN) has denied scarcity of the new naira notes as alleged by some Nigerians. Godwin Emefiele, CBN Governor, represented by Musa Jimoh, Director, Payment System Management…
- 12 Jan 2023
CBN Vows to Sanction Banks Hoarding New Naira Notes
Central Bank of Nigeria (CBN) has vowed to sanction any commercial bank hoarding the new naira notes from the public. According to a report by Daily Trust, the apex bank hinted that from Thursday, it…
- 7 Feb 2023
ICPC Arrests Bank Managers over 'Stashed' N258m New Naira Notes
Independent Corrupt Practices and Other Related Offences Commission (ICPC) said its operatives have arrested Regional and Service managers of Sterling Bank over the sum N258m new naira notes…
- 22 Nov 2022
Buhari Unveils New Naira Notes Today
President Muhammadu Buhari will unveil the newly designed naira notes today Wednesday, November 23, 2022, Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), said on Tuesday. President…
- 16 Feb 2023
Buhari Asks CBN to Release Old ₦200 to Coexist with New Naira Notes
President Muhammadu Buhari on Thursday ordered the Central Bank of Nigeria (CBN) to allow the old N200 notes and redesigned N200, N500 and N1000 notes to coexist. However, the deadline for N500,…
- 16 Oct 2019
CBN Prints N177Bn New Naira Notes, Destroys N1.8Trillion Others
Central Bank of Nigeria (CBN) has said a sum of N176.9bn was spent to print banknotes between 2015 and 2018. This came as the apex bank also said that it destroyed unfit Naira currency notes…
- 13 Dec 2024
CBN Says Old, New Naira Notes Remain Legal Tender
Central Bank of Nigeria (CBN) has said that all denominations of Naira banknotes currently in circulation remain indefinitely valid as legal tender and cannot expire or be phased out. A statement on…
- 29 Nov 2023
Supreme Court Says Old and new Naira notes Remain Legal Tender until Further Notice
Supreme Court has ruled that both the old and the redesigned Naira banknotes remain valid legal tenders in the country beyond December 31. The apex court, in a ruling by a seven-man panel led by…
- 18 Jan 2023
CBN to Sanction Banks Dispensing Old Notes @ ATMs
Central Bank of Nigeria (CBN), has said the agency will go tough on banks that continue to fill their ATM machines with old naira notes as the deadline to phase out the notes nears. Mr. Kofo…
- 29 Mar 2017
Study Confirms Counterfeit Naira Notes Circulation on Increase
A new poll has revealed that 41 percent of respondents are aware of the recent circulation of counterfeit currencies (also known as fake Naira notes) in the country, and 19 percent of this proportion…
- 18 Jan 2023
CBN Insists New Naira will Curb Corruption, Inflation
Central Bank of Nigeria has expressed assurance that the new naira notes will circulate to every nook and cranny of the country before the January 31, 2023 deadline, according to Punch report. Many…
- 9 Nov 2020
CBN Rejects Bid to Remove Arabic Inscription from Naira Notes
Central Bank of Nigeria (CBN) has opposed a suit before the Federal High Court in Lagos praying that the Arabic inscriptions on naira notes be removed. Chief Malcolm Omirhobo, Lagos-based lawyer, who…
- 19 Jan 2023
Reject Old Naira Notes From Banks - CBN Tells Nigerians
Central Bank of Nigeria (CBN) has directed customers to start rejecting old naira notes from banks, insisting that the old notes ceased to be legal tender by the January 31 as earlier stipulated,…
- 20 Jan 2023
CBN to Fine Banks N1m Daily over New Currency Notes
Central Bank of Nigeria, CBN, has disclosed that any commercial bank that failed to pick up its new currency for distribution will be fined N1 million per day, according to Vanguard report. The apex…
- 2 Feb 2023
CBN Orders Banks to Start Paying New Notes over the Counter
Central Bank of Nigeria (CBN) has directed deposit money banks (DMBs) to commence the payment of the redesigned Naira notes over the counter, subject to a maximum daily payout limit of N20,000. Osita…
- 7 Mar 2023
Confusion over Legal Status of Naira Notes as CBN and Bankers Bicker
Despite the affirmation by Central Bank of Nigeria (CBN) that both old and new notes are still legal tender, an unnamed banker has warmed that customers who are accepting old N1000 and N500 notes…
- 21 Sept 2009
CBN to Print New Polymer Notes
In a bid to save cost and reduce the frequency of processing/sorting and replacing unfit paper notes, the Central Bank of Nigeria (CBN) is to issue 1.915 billion new polymer currency notes of N5, N10…
- 26 Jan 2023
Old Naira Notes: Reps threaten to arrest CBN Governor, Bank CEOs
Members of the House of Representatives have threatened to invoke the relevant sections of the law to issue a warrant of arrest on the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin…
- 4 Nov 2021
CBN Spends N58.6Bn to Print 2.5Bn Naira Notes
Central Bank of Nigeria (CBN) spent the sum of N58.618 billion to print 2.518 billion Naira notes, valued at 1. 063 trillion in 2020, according a report in the Vanguard . This was contained in the…
- 8 Sept 2017
Bank ATM Dispenses Fake Naira Notes in Edo
Charles Ajiboye, a federal civil servant in Edo State, has petitioned Edo State House of Assembly, alleging that the Automated Teller Machine (ATM), of a new generation bank in Benin, was dispensing…
- 29 Jan 2023
CBN Extends Deadline for Old Naira Notes to Feb 10
Godwin Emefiele, Governor of Central Bank of Nigeria (CBN) has extended the deadline for the swap of old naira notes at commercial banks by 10 days. Emefiele in a press statement issued on Sunday,…
- 7 Mar 2021
CBN to Pay N5 for Every $1 Remittance in New ‘Naira 4 Dollar’ Scheme
The Central Bank of Nigeria (CBN) has introduced a ‘Naira 4 Dollar Scheme’ for diaspora remittances, which offers recipients of diaspora remittances through CBN’s IMTOs to be paid N5 for every $1…
- 25 May 2009
N20:The Most Mutilated Nigerian Currency Note
In February 2007, the Central Bank of Nigeria (CBN) released for public use new designs of the Nigerian currency. The redesigned denominations were the N5, the N10 naira, the N20, N50 and newly…
- 6 Jan 2023
Naira: CBN Insists on January 31 Deadline, Begins Countdown on Expiration of Old Notes
Central Bank of Nigeria (CBN) has launched a countdown to the January 31 deadline when the old N1,000, N500, and N200 notes will cease to be legal tender, amid complaints that the new naira notes are…
- 26 Jul 2016
Analysts React to CBN New MPR, Falling Naira
Mr. Lukman’ Otunuga, research analyst of FXTM, said the global markets received with shock the Central Bank of Nigeria’s decision to increase the monitory policy rate from 12 to 14 per cent. Otunuga…
- 22 Jan 2023
CBN Launches Cash Swap Programme in Rural, Underserved Areas
In furtherance of its Naira Redesign policy and in recognition of the need to maximise the channels through which underserved and rural communities can exchange their Naira, the Central Bank of…