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
The Association of Corporate Affairs Managers of Banks has released a formal statement denying the allegations of commercial banks fueling the naira scarcity. According to Rasheed Bolarinwa, the banks cannot fuel the scarcity owing to the fact they had already invested N100 billion into the system. However, he notes that 80% of Nigerians now enjoy … 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
Emefiele is currently in Daura with Buhari over the currency swap deadline. Emefiele has been in the headlines over his refusal to shift the January 31st deadline. With the deadline less than 48 hours away, it was not immediately clear what he may propose to the president during the visit. EKO HOT BLOG reports that … Read more
A viral video has shown damaged Naira notes stocked in bag bags in an unidentified place. EKO HOT BLOG reports that barely a week after the release of the newly redesigned naira notes by the Central Bank of Nigeria (CBN), bags of damaged old Naira denomination were discovered in a viral video. EDITOR’S PICKS Danger … Read more
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
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
Why Conducting Elections In Nigeria Is Expensive – INEC EKO HOT BLOG reports that Independent National Electoral Commission (INEC) on Friday gave an insight into why much funds went into the conduct of elections. Prof. Mahmood Yakubu, the INEC Chairman, gave the insight while responding to questions at an interactive session with the … 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
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
Nigerian travellers and students abroad are stranded as banks adjust their forex sale policy due to dollar scarcity. EKO HOT BLOG reports that Nigerian travellers and students abroad are finding it increasingly difficult to access the United States dollar at the Central Bank of Nigeria’s official rate for eligible transactions. EDITOR’S PICK: Black Market … Read more
Nigeria Now World Bank’s Fourth Highest Borrower With $13bn Stock Debt EKO HOT BLOG reports that rising debt has pushed Nigeria up the World Bank’s top 10 International Development Association borrowers’ list. EDITOR’S PICK SecureID Applauds LASG, Says Residents Cards Will Harmonise MDAs 2023: Wike Discloses Recent Findings, Warns PDP, APC, SDP Ahead … Read more
Emefiele Finally Breaks Silence On Presidential Ambition. Emefiele, in a series of tweets on his verified Twitter page, on Saturday, said he was yet to take a position. EDITOR’S PICK BREAKING: Niger-Delta Youth Group Sends Strong Warning To Wike Over Dagogo Detention You’re Worst Of All Our Enemies, IPOB Replies Wike 2023: INEC Reacts To … Read more
If you’re finally tired of Zenith Bank, Kuda Bank, GTB and other Nigerian banks’ issues, below is how to report your bank to CBN …See What you should know, how to lodge a complaint with the CBN EDITOR’S PICK 2023: APC Commences Sale Of Nomination Forms House Of Assembly Member Dumps APC For PDP [PHOTO] … Read more
Central Bank Of Nigeria In Makurdi Is On Fire Details and every vital information surrounding this are still sketchy at press time EDITOR PICK BREAKING: IPOB Places Bounty On Fake ESN, Reveals Gunmen Sponsors In South East APC Ticket: Tinubu, Amaechi At War Over 3, 000 Statutory Delegates 2023: Ngige To Make Position On Tuesday … Read more
BDCs seek return of its members to mainstream foreign exchange (FX) business, says Our inclusion will stabilise the market It faulted the claims that the naira has remained largely stable following the stoppage of FX allocation to its members, arguing its operation is part of the stabilisation mechanism the market needs EDITOR’S PICK: MTN Nigeria … Read more
The Central bank of Nigeria has disclosed that the Naira In Circulation Drops By N37.84 Billion In February 2022 CBN in her communique of the recent 284th MPC meeting disclosed that they disbursed a sum of N29.67 billion between January and February 2022 under the Anchor Borrowers’ Programme (ABP) for the procurement of inputs and … Read more
Latest NPower News on the position of exited batches A & B beneficiaries can be read on EKO HOT BLOG The ministry is in the process of training those that have indicated interest. And I’m sure before the end of this quarter, these people will be given these loans by the CBN. EKO HOT BLOG … Read more
CBN to stop dollar sales to banks by end of 2022, says they must start sourcing FX from export proceeds EKO HOT BLOG reports that the Central Bank of Nigeria (CBN) has said that it would discontinue the sale of foreign exchange to Deposit Money Banks (DMB) by the end of the year. The CBN … Read more