CBN Governor, Godwin Emefiele has announced that the new Naira notes will be unveiled tomorrow. EKO HOT BLOG reports that the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Tuesday announced that President Muhammadu Buhari will officially unveil the designed Naira notes tomorrow Wednesday, November 23, 2022. Emefiele made this known during … Read more
The Senate has approved CBN’s plan to redesign naira notes. EKO HOT BLOG reports that the Nigerian Senate on Wednesday resolved to provide legislative support for the policy of the Central Bank of Nigeria (CBN) to redesign the naira. The resolution of the Red Chamber followed a motion on the policy by the Chairman of … Read more
CBN has assured Nigerians of safety and protection against any losses. EKO HOT BLOG reports that the Central Bank of Nigeria (CBN) has promised to protect Nigerians without bank accounts, to ensure they don’t suffer any loss in the proposed Naira redesign exercise. According to the bank, it would protect Nigerians in Unbanked, Underserved, and … Read more
An APC group has threatened legal action against Buhari over Emefiele’s case. EKO HOT BLOG reports that a support group of the All Progressive Congress (APC) presidential candidate, Bola Tinubu identified as the South-South Agenda for Tinubu/Shettima (SSAT) has threatened to drag President Muhammadu Buhari to court. This online media platform reports that the SSAT … Read more
Emirates has suspended flight operations in Nigeria. Eko Hot Blog reports that Emirates Airline has suspended flights operations to Nigeria indefinitely. EDITOR’S PICKS Ethiopia, Tigray Forces Agree To End Two-year Conflict After Obasanjo’s Intervention Israel’s PM Lapid Concedes Election As Netanyahu Pulls Comeback Tragedy As Son Stabs Nigerian Mom To Death In London (PHOTOS) In … Read more
Former Emir of Kano, Muhammadu Sanusi II has said the redesigned naira notes will retain the Arabic sign on the current notes. Eko Hot Blog reports that Sanusi who was also a former governor of the Central Bank of Nigeria (CBN) said the apex bank’s governor, Godwin Emefiele, told him that the Arabic sign will … Read more
Buhari has spoken on approval of the Naira notes redesign project. EKO HOT BLOG reports that President Muhammadu Buhari has finally broken his silence about the approval of the new naira note that has caused controversies between the Central Bank of Nigeria (CBN) and the Ministry of Finance, Budget, and National Planning. According to Buhari, … Read more
A former CBN deputy governor has declared support for the redesign of Naira notes. EKO HOT BLOG reports that several reactions have trailed the decision of the apex bank following the announcement to redesign the N200, N500 and N1000 naira notes by the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele last Wednesday. … Read more
Moghalu says the CBN does not owe the finance minister any information regarding its plan to redesign some naira notes. Eko Hot Blog reports that a former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, has said the apex bank does not owe the Minister of Finance, Zainab Ahmed, any information about … Read more
CBN has revealed that the Naira redesign project has already been approved by Buhari. EKO HOT BLOG reports that the Central Bank of Nigeria (CBN) has reacted to the statement of the Minister of Finance, Budget and National Planning, Zainab Ahmed, claiming that her ministry has no knowledge about the redesigning of the Naira notes. … Read more
The Central Bank of Nigeria’s decision to redesign the Naira, the country’s currency, has greatly increased demand in the foreign exchange market. Eko Hot Blog reports that as more people look to buy dollars to exchange their stashed naira notes, this enormous demand has caused the naira to depreciate even more in the black market. … Read more
Moghalu has explained why the CBN’s naira redesign plan may hurt Nigeria’s currency. Eko Hot Blog reports that a former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, has explained the pros and cons of the decision of the CBN to redesign some naira notes. EDITOR’S PICKS CBN Announces Date To Introduce … Read more
The CBN has announced a date to introduce redesigned naira notes. Eko Hot Blog reports that the Central Bank of Nigeria (CBN) on Wednesday said it will redesign the N100, N200, N500 and N1,000 notes respectively. EDITOR’S PICKS 2023: “I’ll Remain On My Own” – Ortom Rules Out Support For Atiku 2023: Court Nullifies Rivers … Read more
A few years ago, the Central Bank of Nigeria introduced the “Cashless Economy” policy into the Nigerian banking system. The aim is to migrate regular banking transactions to Online and Mobile banking. Consequently, the USSD code and Mobile App banking came into play. USSD service enables customers to perform fund transfers, check balances, check BVN(Bank … Read more
Wike has explained how Abia and Benue were denied a CBN loan because their governors supported him. Eko Hot Blog reports that Rivers State Governor, Nyesom Wike, alleged that some persons blocked the release of the loan from the Central Bank of Nigeria (CBN) to Abia and Benue States. EDITOR’S PICKS Suspend Your Campaigns To … Read more
The IMF has urged Nigeria to use clear policy decisions to tame inflation. Eko Hot Blog reports that the International Monetary Fund (IMF) has implored Nigeria and other countries to make clear policy decisions for price stability amid rising inflationary pressures. EDITOR’S PICKS Buckingham Palace Announces Date For King Charles III’s Coronation WTO DG Okonjo-Iweala … Read more
Four Airlines that have suspended operations in Nigeria over trapped Forex concerns. The Federal Government’s inability to allow foreign airlines operating in the country’s airspace to repatriate their trapped funds has unsettled the nation’s aviation industry forcing some airlines to suspend their operations in Nigeria. This is as the international carriers operating in … Read more
President Muhammadu Buhari has approved the appointment of Ahmed Halilu as the substantive Managing Director of Nigerian Security Printing and Minting Company, NSPMC Plc. EKO HOT BLOG reports that Halilu has been operating in acting capacity since May 16 when the former Managing Director, Abbas Masanawa, resigned to enable him pursue his gubernatorial ambition. EDITOR’S PICK … Read more
Fidelity Bank Plc has entered into a binding agreement to acquire a 100% stake in Union Bank UK Plc. EKO HOT BLOG reports that top commercial bank, Fidelity Bank has entered into an agreement to buy 100 per cent stake in the United Kingdom unit of Nigeria’s second oldest lender, Union Bank. EDITOR’S PICK: … Read more
CBN Releases $265m Out of Trapped Foreign Airlines’ Funds EKO HOT BLOG reports that the Central Bank of Nigeria (CBN) has released the sum of $265 million to airlines operating in the country to settle outstanding ticket sales in an apparent move to check a brewing crisis in the country’s aviation sector. A … Read more