The CBN introduced a naira redesign policy that changed the look and feel of the N200, N500, and N1000 notes late 2022. However, the apex bank gave a short deadline to phase out the old naira notes, which triggered a cash scarcity across the country. At least 16 states subsequently sued the federal government and … Read more
Some oil Marketers are still rejecting old notes despite CBN directives. The CBN announced on Monday that old notes now remain legal tender. Lamenting about the situation an oil Marketers asked the government to provide surplus of the new notes rather than parading old ones. EKO HOT BLOG reports that oil marketers, on Monday, insisted … Read more
The CBN introduced a naira redesign policy that changed the look and feel of the N200, N500, and N1000 notes late 2022. However, the apex bank gave a short deadline to phase out the old naira notes, which triggered a cash scarcity across the country. At least 16 states subsequently sued the federal government and … Read more
Soludo says the CBN has instructed commercial banks across the country to start dispensing old naira notes. This aligns with the Supreme Court ruling granting the old notes their legal tender status again. However, there have been cases of the notes being rejected by individuals and the banks themselves. EKO HOT BLOG reports that in … Read more
The CBN introduced a naira redesign policy that affected the old N200, N500, and N1000 notes late last year. The policy resulted in a cash shortage that continues to affect Nigerians nationwide. The cash shortage forced some states, including Lagos, to sue the federal government and they secured a Supreme Court order that upheld the … Read more
Adeleke has spoken on the old notes situation around the country. The Osun state governor asked CBN to call commercial banks to order. According to reports, commercial banks have been giving out old notes, but refuse to collect them as deposit. EKO HOT BLOG reports that the Osun State Governor, Ademola Adeleke, on Sunday decried … Read more
The CBN introduced a naira redesign policy late last year. The policy resulted in a cash shortage that continues to affect Nigerians nationwide. The cash shortage forced some states to sue the federal government and they secured a Supreme Court order that upheld the validity of the old naira notes till December 31, 2023. Eko … Read more
Some commercial banks have their exhausted cash as the Naira scarcity is worsening. This is coming after the Supreme Court order to extend deadline for old notes till December 31st. Commercial banks are currently unable to get supply of cash from the CBN. EKO HOT BLOG reports that the crisis rocking the nation over the … Read more
The Central Bank of Nigeria has issued new guidelines to banks to promote transparency in the banking system. The guidelines require customers’ consent before their data can be obtained for open banking products and services. The CBN hopes the guidelines will expand the range of financial products and services available to bank customers. EKO HOT … Read more
CBN has officially announced the extension of deadline for old notes. This is coming some days after the Supreme Court order on old notes. The old notes will remain a legal tender till December 31st. EKO HOT BLOG reports that the Spokesman of the Central Bank of Nigeria (CBN), Isa Abdulmumin, has said both the … Read more
Banks have told Nigerians that re-issuing old notes can only be done with an order from CBN. The Supreme court last week ordered an extension of the use of old notes. The FG is yet to obey the Court order or address Nigerians on the issue. EKO HOT BLOG reports that Banks are divided over … Read more
The CBN announced the redesign of N200, N500, and N1,000 notes in October 2022. The apex bank set a deadline for the validity of the old naira notes which triggered cash scarcity. The hardship that followed the cash scarcity forced some states to sue the federal government and ask the Supreme Court to weigh in … Read more
The CBN announced the redesign of N200, N500, and N1,000 notes in October 2022. The apex bank set a deadline for the validity of the old naira notes which triggered cash scarcity. The hardship that followed the cash scarcity forced some states to sue the federal government and ask the Supreme Court to weigh in … Read more
Some Bank CEOs are set to resign following CBN’s decision to conduct tenure reviews. The development was announced in a circular on Friday. The new tenure requirements are set to take effect on 24th February 2023. EKO HOT BLOG reports that the Central Bank of Nigeria, (CBN) has announced that it will review the tenure … Read more
The IGP has initiated an investigation into the governors for allegedly making incendiary remarks regarding the Naira redesign policy. He said despite the investigation, the governors who have been found guilty of inciting comments cannot be prosecuted because they enjoy immunity. Baba made this known on Wednesday while speaking with journalists. EKO HOT BLOG reports … Read more
The CBN has dismissed rumours that it will shut down banking services during the 2023 elections. It was reported that banking services would be suspended from Thursday, February 23 to Monday, February 27, 2023. Reacting via a tweet on Thursday, the apex bank described the report as fake. EKO HOT BLOG reports that the Central … Read more
The Supreme court is set to resume hearing on the Naira policy today. State Governors kicked against Buhari’s new policy, following the previous order by the court. They urged the supreme court to reallow the use of old 200, 500 and N1000 notes. EKO HOT BLOG reports that the Supreme Court will today resume hearing … Read more
The CBN has come under fresh fire from Ganduje. The governor described the CBN’s Naira policy as ‘COVID-23’. Ganduje also slammed his counterparts Godwin Obaseki and Duoye Diri, respectively, for going to court. EKO HOT BLOG reports that the Governor of Kano State, Abdullahi Umar Ganduje has remained unsparing in his condemnation of the naira … Read more
INEC has confirmed that the CBN has released funds needed for the 2023 elections. The Oyo Electoral Commissioner stated expressed optimism that the INEC will conduct free and fair elections. He also urged the Oyo people to come out and vote their preferred candidates. EKO HOT BLOG reports that the Oyo state Resident Electoral Commissioner … Read more