The CBN has insisted that the 31st January deadline to halt the use of the old 200, 500 and 1000 naira notes still stands. Emefiele said this during the CBN/Monetary Policy Committee (MPC) briefing in Abuja. Also at the meeting, the CBN raised the Monetary Policy Rate (MPR), which measures interest rate, to 17.5 per … Read more
The CBN’s policy-setting committee raised the monetary policy rate (MPR) from 16.5% to 17.5%. The MPR is the baseline interest rate in an economy; every other interest rate used within an economy is built on it. The CBN governor announced the new interest rate on Tuesday. Eko Hot Blog reports that the Monetary Policy Committee … Read more
Some Nigerians have started rejecting old notes, one week before CBN’s deadline. According to reports, businesses in Sokoto on Monday have started rejecting the old naira notes. A resident explained that most banks in the state still paid customers with the same old naira notes. EKO HOT BLOG reports that the residents in Sokoto State … Read more
Some commercial banks are still struggling to meet demands for new notes. The CBN on Saturday stressed that there would be no extension of the January 31 deadline. The CBN has ordered all banks to fill ATMs with old notes alone. EKO HOT BLOG reports that the Automated Teller Machines in Lagos, Abuja and other … Read more
Emefiele is currently in a meeting with the president. The CBN Governor has been facing a series of allegations including corruption and terrorism financing. Emefiele was part of a delegation of the Arab Bank for Economic Development led by Dr Sidi Ould Tah. EKO HOT BLOG reports that the Governor of the Central Bank of … Read more
CBN has ordered all commercial banks to collect new notes ahead of the January 31st deadline. Emefiele Revealed that the new notes are in the Apex Bank Vault awaiting pick up. Emefiele pointed out the January 31st deadline will not be interfered with. EKO HOT BLOG reports that the Central Bank Governor, Mr Godwin Emefiele, … Read more
Emefiele will appear in Federal High Court on Wednesday, 18 January. The CBN governor was summoned over the suit seeking his arrest. The suit arose over an alleged $70 million judgment against Linas over the lawyer’s services in the Paris Club refund. EKO HOT BLOG reports that the Governor of the Central Bank of Nigeria … Read more
Obi has condemned rumours of alleged plans to remove Emefiele as CBN governor. According to the former governor removing Emefiele won’t change the economic situation of the country. Emefiele returned to the country on Monday morning and resumed office after the expiration of his annual leave. EKO HOT BLOG reports that the Presidential candidate of … Read more
There had been reports that DSS operatives invaded the CBN headquarters to arrest Emefiele. The DSS dismissed the reports as false and misleading. The secret police had sought a court order to detain the CBN boss on terrorism financing allegations. Eko Hot Blog reports that the Department of State Services (DSS) has denied invading the … Read more
CBN has been ordered to freeze Polaris Bank account over debt record. EKO HOT BLOG reports that the Nigeria’s apex bank, the Central Bank of Nigeria (CBN), has been ordered to freeze the account of Polaris Bank over a judgment debt of N2.16 billion. A high court sitting in Akure, the Ondo state capital, granted … Read more
Some commercial banks’ ATMs have been stocked with new notes following CBN’s announcement. EKO HOT BLOG reports that commercial banks in Ekiti have begun to issue new naira notes to customers. Automated Teller Machines of the banks are now also stocked with the new notes, a situation that excites the people of the state. EDITOR’S … Read more
The CBN Governor Emefiele has secretly returned to the country amid calls for his arrest. EKO HOT BLOG reports that the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has secretly returned to Nigeria. The embattled CBN chief reportedly returned to the country amidst the call for his arrest over allegations of fraud … Read more
The CBN has threatened to sanction the banks refusing to load the new naira notes in their ATMs. Eko Hot Blog reports that the Central Bank of Nigeria (CBN) says commercial banks that fail to comply with the directive of loading the redesigned naira notes in their automated teller machines (ATMs) will face penalties. EDITOR’S … Read more
DSS has been sued by a human right activist over Emefiele’s detention. EKO HOT BLOG reports that human rights activist, Meliga Godwin, has dragged the Department of State Service (DSS) and its Director General before a Federal High Court in Abuja over his arrest. This online media platform understands that Godwin was apprehended by the … Read more
CBN has clarified its directive on the new banknotes. EKO HOT BLOG reports that the Central Bank of Nigeria (CBN) has clarified that it did not ban Deposit Money Banks (DMBs) from paying customers new notes over the counter. This online media platform gathered that the CBN, in a memo, had directed the banks to … Read more
CBN has issued fresh directives to commercial banks on new notes withdrawal. EKO HOT BLOG reports that the Central Bank of Nigeria (CBN) has directed Deposit Money Banks to stop the payment of customers making over-the-counter withdrawals of new naira notes. EDITOR’S PICKS Buhari Mourns Kebbi Boat Victims PVC: Peter Obi Sends Message To Nigerians Ahead … Read more
NFIU has banned cash withdrawals from government bank accounts. All relevant government transactions will be carried out on the basis of electronic transfer from March 1. Under the guidelines, only the President can give a waiver for any cash above the approved daily threshold to be withdrawn. Eko Hot Blog reports that the Nigerian Financial … Read more
FG has revealed that Nigeria‘s dept could hit N77 trillion by May. EKO HOT BLOG reports that the Director-General of the Debt Management Office (DMO), Patience Oniha, has predicted a high increase in the country’s debt before the end of the Muhammadu Buhari-led administration. The director-general made this known in Abuja on Wednesday during the … Read more
Buhari is currently under pressure to stop the arrest of the CBN governor. EKO HOT BLOG reports that the revered monarchs and top political bigwigs are reportedly mounting pressure on President Muhammadu Buhari to prevent the operatives of the Department of State Services (DSS) from arresting the Governor of the Central Bank of Nigeria (CBN), … Read more
HURIWA has slammed President Buhari over his Christmas message to Nigerians. EKO HOT BLOG reports that the Human Rights Writers Association of Nigeria, HURIWA, has faulted the 2022 Christmas message of President Muhammadu Buhari wherein he commended himself for making “advances” on the “economic front” and on “food security”. The Association National Coordinator, Comrade Emmanuel … Read more