Naira Swap: CBN Threatens To Prosecute PoS Agents Charging Above N200

The CBN has warned PoS agents against charging above N200. The CBN has also threatened to arrest and prosecute offenders. Mr Joseph Omayuku, the Director of the Governor’s Department, CBN, stated this on Monday while briefing journalists in Yenagoa, Bayelsa State. EKO HOT BLOG reports that the Central Bank of Nigeria has pledged to crack … Read more

CBN Announces Discontinuation Of Old Naira Notes As Legal Tender In Nigeria

The CBN has announced the discontinuation of old Naira notes as legal tender in Nigeria. The CBN said old Naira notes of N200, N500, and N1000 have ceased to be legal tender. The declaration was made by the Branch Controller of the Central Bank of Nigeria (CBN), Bauchi, Haladu Idris Andaza. EKO HOT BLOG reports … Read more

CBN Plunges Nigerians Into Confusion As Banks Reject Old Naira Notes

The CBN’s naira redesign policy has been a source of suffering and confusion for Nigerians in recent weeks. The Supreme Court seemed to give respite to Nigerians last week after ordering the apex bank not to enforce its deadline for phasing out the old naira notes. However, some commercial banks have stopped collecting the old … Read more

CURRENCY SWAP: Could Emefiele Have Drunk His Own Poison?

Emefiele Reveals Real Reason Behind Naira Re-design

By FEMI ODERE When the governor of the Central Bank of Nigeria (CBN) Mr. Godwin Emefiele announced in October that the country’s three high denominations would undergo a facelift by changing their colours and that the notes whose colours would be changed would cease being the country’s legal tender by January 31, 2023, not a … Read more

Naira Swap Crisis: Again, Buhari Meets Emefiele At Aso Rock

Buhari met with Emefiele at Aso Rock over the Naira swap crisis. This is the third time the CBN governor has been meeting with the President since the Naira crush crisis in the country. Since February 10, Nigerians have been hit by Naira scarcity due to the swap of the currency. EKO HOT BLOG reports … Read more

Naira Crisis: Wike, Tambuwal, Sanwo-Olu Join Legal Battle Against Buhari, CBN

Governors Wike, Tambuwal, and Sanwo-Olu have joined forces in a legal challenge against President Buhari and the Central Bank over the naira redesign policy. It was gathered that the Govt of Bayelsa, Rivers, and Sokoto will be joining as co-plaintiffs in a suit filed by the governments of Kaduna, Kogi, and Zamfara states. The states … Read more

Naira Redesign: Another Governor Drags Buhari Govt, CBN To Court

Court
  • Buhari’s government has again been taken to court over the Naira redesign.

  • The Niger state government filed the case on February 10th against the Federal Government.

  • The state gov expressed concern over the hardship citizens are experiencing due to the new policy.

EKO HOT BLOG reports that the Niger State Government has dragged the Muhammadu Buhari-led Federal Government to the Supreme Court over the naira redesign policy introduced by the Godwin Emefiele-led Central Bank of Nigeria (CBN).

This was made known in a statement on Saturday by Nasara Danmallam, the Niger State Attorney General and Commissioner for Justice, in Minna, the State capital.

EDITOR’S PICKS  

He disclosed that the case, with suit number SC/CV/210/2023, was filed on February 10, with the Niger State Government as the plaintiff.

According to Danmallam, the state government was seeking an extension of the timeframe given by the CBN for the currency swap and withdrawal from circulation of old N200, N500, and N1,000, amongst other reliefs.

He noted that the three months given by the federal government for the withdrawal of old currency across the country was not reasonable and in violation of sections 13, 14 (2) (b), 17 (1) (c) of the 1999 Constitution as amended.

In the affidavit in support of the originating summons, filed at the Supreme Court, the Niger government contended that the unavailability of the newly redesigned notes had caused untold hardships and sufferings on the inhabitants of the state, especially those living in rural dwellers across the state.

FURTHER READING

The statement expressed the state government’s concern about the inconveniences the redesigned Naira policy had brought on the people, saying that the government would continue everything within its constitutional limit to ameliorate their sufferings.

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Redesigned Naira Notes: CBN Clarifies Emefiele’s Statement About NSPMC’s Printing Capacity

Suspended CBN Governor, Godwin Emefiele

Millions of Nigerians have been struggling to access naira notes for several weeks due to the CBN’s plan to phase out old naira notes. Deposit money banks have been failing to meet the demands for the new naira notes. On Friday, the Council of State urged the apex bank to print more notes to meet … Read more

Godwin Emifiele and His Central Bank of Darkness

Old Naira notes

By Tunde Odesola S-s-s-s-h-h-h! Q-u-i-e-t! I’m in the Forest of a Thousand Demons. Please, don’t fear for my safety, I’m ok. It’s dangerous, though. I can only listen, watch and text. S-s-s-s-s-h, s-i-l-e-n-c-e! It’s election season, the forest is buzzing with a frenzy; demons are on the prowl, campaigning. EDITOR’S PICKS   PDP Expels Nnamani, Fayose’s … Read more

Naira Swap: Tinubu’s Camp Demands Immediate Sack Of CBN Gov, Emefiele

Tinubu’s camp has demanded the immediate sack of the CBN Governor, Godwin Emefiele. Onanuga lambasted the CBN chief for “gross incompetence”. He urged Buhari to immediately dismiss Emefiele over the Naira swap. EKO HOT BLOG reports that Bayo Onanuga, the Director of Media and Publicity for All Progressives Congress (APC) Presidential Campaign Council (PCC), has … Read more

Naira Swap Deadline: CBN Told To Shun Supreme Court Ruling

The CBN has been told to shun the Supreme Court ruling on the use of old naira notes. The apex court had, in the judgement, annulled the CBN deadline of February 10. Reacting to the development, Farotimi suggested that the CBN ignore the Court ruling through ex parte order. EKO HOT BLOG reports that a … Read more

Old Notes Swap: Adamu Garba Reacts As IMF Asks CBN For Extension Of Deadline

Adamu Garba

Adamu Garba has reacted to the IMF’s request over the deadline date for the old notes swap. The IMF urged the FG to consider the condition of the citizens and extend the date. According to the APC chieftain, FG must extend the deadline so we can face the election. EKO HOT BLOG reports that a … Read more

Massive Protest Rocks Abuja Over Supreme Court’s Order On Naira Notes [PHOTO]

BREAKING NEWS

Massive protests have erupted in Abuja over Supreme Court’s order on Naira notes. The aggrieved protesters stormed CBN headquarters and the office of the Attorney General of the Federation urging it not to back down on the currency swap policy. They urged President Buhari to issue Executive Order for the old Naira notes not to … Read more

Reprieve For Nigerians As Supreme Court Orders CBN Not To Implement Deadline For Old Naira Notes

The CBN had planned to phase out the old N200, N500, N1000 notes from February 10, 2023. The move came after the apex bank redesigned the concerned naira notes. Due to the difficulty in accessing the new naira notes, some states sued the federal government. Eko Hot Blog reports that the Supreme Court of Nigeria … Read more

Naira Scarcity: Buhari Summons Emefiele, Tambuwal Others To Aso Rock

Buhari has summoned the CBN governor Emefiele, Tambuwal and others to the Aso Rock. The meeting was held amid the scarcity of naira notes which had elicited protests in various parts of the country. Buhari had implored Nigerians to give him a seven-day window which lapses on February 10 to resolve the currency crunch. EKO … Read more

Naira Redesign: 13 Political Parties Threaten To Pull Out Of 2023 Polls

13 political parties have threatened to boycott the 2023 general elections. The parties are considering pulling out of the elections over the cash withdrawal limit and Naira swap policies. Some of the parties said they would not be interested in the elections if the new deadline of February 10, 2023, is shifted. EKO HOT BLOG … Read more

3 Govs Throw Their Weight Behind The Masses, Drag FG, CBN To Court Over Naira Scarcity

Governors of Kaduna, Kogi, and Zamfara have dragged the FG and CBN to court over naira scarcity. The three northern states are urging the apex court to grant them an interim injunction stopping the Federal Government either by itself or acting through the CBN. No date has been fixed for the hearing of the suit. … Read more

Naira Notes Scarcity Will Necessitate Another Meeting In The House of Rep Before Election – Gbajabiamila

Nigerians have been struggling to access the redesigned naira notes for several weeks. The situation has persisted despite numerous promises by the federal government to sort it out. Gbajabiamila spoke about the situation with his constituents on Sunday. Eko Hot Blog reports that the Speaker of the House of Representatives, Femi Gbajabiamila, has revealed his … Read more

Naira Swap: ‘Give Me 7 Days To Resolve Crisis’ — Buhari Begs Nigerians

President Buhari has urged Nigerians to give him 7 days to resolve the currency redesign crisis rocking the country. Buhari said the currency re-design will give a boost to the economy and provide long-term benefits. He spoke after his closed-door meeting with governors of the All Progressives Congress. EKO HOT BLOG reports that President Muhammadu … Read more

Buhari Meets APC Governors Amid Scarcity Of Fuel, Naira Notes

Nigerians have been struggling to access fuel and the redesigned naira notes for several weeks. The situations have persisted despite numerous promises by the federal government to sort them out. The president’s meeting with governors from his party may be connected to the crises. Eko Hot Blog reports that President Muhammadu Buhari is in a … Read more