El-Rufai has faulted CBN over the old naira notes swap deadline. The CBN has fixed February 10 as the deadline for the old notes swap. According to the Kaduna Gov, the CBN is causing needless pain to Nigerians with its policy. EKO HOT BLOG reports that the Governor of Kaduna State, Nasir El-Rufai, has faulted … Read more
CBN has given a fresh order to commercial banks. The development was confirmed in a statement by the apex bank’s Director of Corporate Communications, Osita Nwanisobi. Paying the new notes over the counter was initially prohibited. EKO HOT BLOG reports that the Central Bank of Nigeria (CBN) on Thursday directed commercial banks to start paying … Read more
There has been a scarcity of naira notes since the CBN announced plans to phase out the old naira notes. Despite the apex bank extending the deadline to phase out the old notes, queues as the ATMs have persisted. The CBN has pledged that the queues will “disappear soon.” Eko Hot Blog reports that the … Read more
A Twitter user is detained by the ICPC for trying to sell new naira notes. The agency made the arrest after receiving a report from intelligence on the suspect’s actions. The anti-graft organisation stated that the move advances the cooperation between the Central Bank of Nigeria and the ICPC. EKO HOT BLOG reports that the … Read more
Emefiele has blamed commercial banks for the scarcity of new notes. According to the CBN boss, some commercial banks are breaching the apex bank guidelines. Emefiele claimed that, since the introduction of the new naira notes, the scheme has had a success rate of almost 75%. EKO HOT BLOG reports that the Governor of the … Read more
Fani Kayode has stated that Emefiele’s move to change the naira notes is against Nigerian democracy. Emefiele, according to the former minister of aviation, “weaponised the apex bank.” Fani-Kayode also stated that the CBN governor is out to cause a crisis, provoke a people’s uprising and derail the country’s democracy. EKO HOT BLOG reports that … Read more
ISWAP reportedly did a giveaway with the old naira notes to Borno residents on the Highway. The gesture is coming following the deadline set by the Central Bank of Nigeria. The ISWAP members were said to have driven two gun trucks and dressed in military camouflage. EKO HOT BLOG reports that suspected Islamic State of … Read more
CBN has issued a fresh directive as a solution to new note scarcity. CBN has ordered banks to give N100 notes and below for over-the-counter transactions. The committee emphasised that customers are advised to conduct transactions through their alternative channels. EKO HOT BLOG reports that the Central Bank Of Nigeria, (CBN) has directed all commercial … Read more
Tinubu has reacted to the extension of the deadline for old notes by CBN. Tinubu commended President Muhammadu Buhari for approving the CBN for the extension. The Former Lagos Gov. noted that the lobbying for the extension is part of the reasons he arrived late for the interaction with political leaders. EKO HOT BLOG reports … Read more
House of Reps has kicked against the extension of the deadline for old notes. Godwin Emefiele on Sunday announced that the deadline has been extended by ten days. The House on Tuesday constituted the ad hoc committee to look into the deadline set by CBN. EKO HOT BLOG reports that the ad hoc committee on … Read more
By Min Eddie The CBN was set to phase out the use of the old N200, N500, and N1,000 notes from February 1, 2023. However, the apex bank faced various calls to extend the deadline due to the shortage of the new notes. The CBN has now bowed to pressure by extending the deadline. Eko … Read more
The CBN was set to phase out the use of the old N200, N500, and N1,000 notes from February 1, 2023. However, the apex bank faced various calls to extend the deadline due to the shortage of the new notes. The CBN has now bowed to pressure by extending the deadline. Eko Hot Blog reports … Read more
Northern elders have lamented over new notes introduced by CBN. According to the group, the new currency is strangling the economy of the country. NEF urged the CBN to revisit and postpone the deadline for the swap. EKO HOT BLOG reports that the Northern Elders Forum, (NEF) has lamented over the redesign of the naira … Read more
CBN Governor Emefiele has again insisted that there is ‘no going back on January 31 deadline’. The CBN has insisted that the old N200, N500, and N1,000 notes will no longer be accepted after the deadline. The apex bank made this known via its verified Twitter handle on Saturday evening. EKO HOT BLOG reports that … Read more
The CBN is set to phase out the use of the old N200, N500, and N1,000 notes from February 1, 2023. The apex bank has resisted various calls to extend the deadline despite the shortage of the new notes. The situation has elicited a reaction from the president who is assuring Nigerians that they will … Read more
The CBN is set to phase out the use of the old N200, N500, and N1,000 notes from February 1, 2023. However, shortage of the new notes has threatened the apex bank’s target. The Kano government lamented that the shortage has inflicted “hardship” on residents. Eko Hot Blog reports that Kano State Governor, Abdullahi Ganduje, … Read more
Ganduje has urged the government to extend the January 31 deadline set by the Central Bank of Nigeria. The call is coming following a meeting by the state governor Ganduje, top government officials, and Islamic clerics at the Government House on Thursday. Ganduje noted that economic activities had been paralysed in Kano due to hardship … Read more
CBN has told Nigerians to visit Money agents to swap their old notes ahead of the January 31 deadline. The bank urged to do the needful instead of going to commercial banks to wait for long queues all day at the banking hall. Alfa berated those rejecting the old notes ahead of the due date, … Read more
CBN Governor Emefiele is in fresh trouble as Reps threatened warrant of arrest on him over naira notes swap. Section 89 gives the parliament power to issue a warrant of arrest on anybody who refuses to honour an invitation from them. The lawmakers would reconvene on Tuesday to take an action against Emefiele and other … Read more
The CBN has launched the Nigerian Domestic Card and banned dollar charges on transactions within the country. Launching the card virtually, Emefiele said: “all domestic transactions that are that are going to be conducted in Nigeria will have to be through the Nigerian domestic cards.” Noting that the domestic card scheme avails the country “the … Read more