INEC has vowed that the 2023 general elections will hold as scheduled. The electoral body maintained that the election will “go on as planned” even as Nigerians battle with the scarcity of petrol and new naira notes. Yakubu made this known on Wednesday during a meeting with the Federal Executive Council (FEC). EKO HOT BLOG … Read more
The IMF has urged the CBN to extend the February 10 deadline for swapping of naira notes. The IMF gave the counsel in the wake of the challenges faced by Nigerians across the country. The IMF said the extension will help to mitigate the challenges in the banknote swap process. EKO HOT BLOG reports that … Read more
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
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
Emefiele has assured the House of Representatives that old Naira notes will still be accepted beyond the February 10 deadline. Emefiele stated this on Tuesday while appearing before the House of Representatives ad hoc committee. The Speaker of the House, Femi Gbajabiamila said the CBN Act mandates commercial banks to accept old notes. EKO HOT … Read more
Some new currency sales syndicates have been arrested by the DSS. Some bank officials have also been implicated. The DSS accused some commercial banks’ officers of “aiding the economic malfeasance”. EKO HOT BLOG reports that the Department of State Services (DSS) on Monday said it has arrested some members of organised syndicates involved in the … Read more
Emefiele has announced that operatives of the EFCC and ICPC will monitor the distribution of new naira notes to banks. The CBN Governor disclosed this on Sunday after briefing President Muhammadu Buhari on the implementation of the naira redesign. The apex bank had fixed January 31, 2023, as the deadline for the withdrawal of the … 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 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
Timi Frank has alleged that some members of the APC are planning to assassinate Emefiele. EKO HOT BLOG reports that the former Deputy National Publicity Secretary of the All Progressives Congress (APC), Timi Frank, has alleged that there is an ongoing plot to murder the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele. … 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
Ohanaeze has stated that Obasanjo deserves to feature in the new naira notes. EKO HOT BLOG reports that the Igbo socio-cultural organisation, Ohanaeze Ndigbo, has said the image of former President Olusegun Obasanjo deserves to be one of the faces on the new naira note the Central Bank of Nigeria (CBN) is designing. The National … 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
The Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, on Sunday, asked President Muhammadu Buhari to sack the Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele. Eko Hot Blog reports that Primate Ayodele made the call in reaction to CBN’s plan to redesign some denominations of the Nigerian currency. EDITOR’S PICK JUST … 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
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
A civil society group has condemned CBN’s naira note redesign. EKO HOT BLOG reports that the Civil Society Legislative Advocacy Centre (CISLAC) has condemned the Central Bank of Nigeria’s (CBN) plans to redesign 200, 500, and 1,000 naira notes. According to the group, considering the current challenges facing Nigeria’s economy, redesigning the naira notes isn’t … Read more