The Supreme Court has adjourned the Naira swap suit against the Federal Government. The court has fixed March 3rd for judgement. The federal government’s Naira swap policy is being legally challenged by the state governments of Kaduna, Kogi, Zamfara, and others. EKO HOT BLOG reports that the Supreme Court has adjourned Judgement on a suit … Read more
Some banks have reportedly been accepting old N500 and N1,000 notes from customers, despite the CBN’s recent directive. Some banks reportedly allowed customers with the code to deposit old notes up to N500,000. The CBN denied instructing banks to continue to collect old notes from depositors. EKO HOT BLOG reports that some banks on Saturday … Read more
The Kogi State branch of the Central Bank of Nigeria (CBN) rejected customers with less than ₦500,000 for the cash swap process. These customers were advised to visit their respective banks to carry out the transaction. The value of the old notes has been credited to the owners’ accounts. EKO HOT BLOG reports that the … Read more
The CBN has warned PoS agents against charging above N200. The CBN has also threatened to arrest and prosecute offenders. Mr Joseph Omayuku, the Director of the Governor’s Department, CBN, stated this on Monday while briefing journalists in Yenagoa, Bayelsa State. EKO HOT BLOG reports that the Central Bank of Nigeria has pledged to crack … Read more
The CBN dropped a fresh hint on the Naira deadline and scarcity. Emefiele said the February 10 deadline is “non-negotiable.” The CBN governor stated this on Tuesday while briefing the diplomatic community at the ministry of foreign affairs in Abuja. EKO HOT BLOG reports The Central Bank of Nigeria (CBN) has insisted that its February … 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
President Buhari has urged Nigerians to give him 7 days to resolve the currency redesign crisis rocking the country. Buhari said the currency re-design will give a boost to the economy and provide long-term benefits. He spoke after his closed-door meeting with governors of the All Progressives Congress. EKO HOT BLOG reports that President Muhammadu … Read more