EKO HOT BLOG reports that the Central Bank of Nigeria (CBN) confirmed on Tuesday that plans are in place to gradually phase out the old N200, N500, and N1,000 naira notes. Acting Governor of the apex bank, Folashodun Shonubi, provided these details after a monetary policy committee meeting at the CBN headquarters in Abuja. … Read more
Commercial banks has stated that the CBN is yet release old notes to them. This is coming after the court order to extend usage of old notes till 31 December. The CBN also asked bank to begin the circulation of the notes. EKO HOT BLOG reports that the Central Bank of Nigeria (CBN) is yet … Read more
GTBank has addressed allegations of giving Tinubu N500m new notes. The Bank debunked the rumour stated that it is false. It also warned customers to verify rumours to avoid acting on misleading informations. EKO HOT BLOG reports that the management of Guaranty Trust Bank has debunked a report that it gave the presidential candidate of … Read more
The Ekiti government plans to review the situation following President Buhari’s directive to the CBN to allow old 200 naira notes to co-exist with new notes until April 10. The government is yet to decide on its next course of action. Lagos Government warned businesses rejecting old notes that they could be prosecuted, as this … Read more
National Security Adviser has expressed worry about how the lack of money may affect soldiers stationed in remote locations. According to the House of reps, officers are currently facing hardship due to the policy. The NSA also stated that special provisions should be made for the military, due to the nature of their work. EKO … Read more
The APC Campaign Council has begged Buhari to extend the usage of old naira notes by one year. According to the council, farmers are the most affected by the new policy. The council suggested a gradual withdrawal of the old notes and replacement with new ones. EKO HOT BLOG reports that the Agro commodities Directorate … Read more
Wike has stated that the scarcity of new naira notes is a plan to sabotage the coming elections. The governor of Rivers made the assertion at the PDP rally in Rivers on Saturday. According to Wike, the purpose of the naira redesign program is to incite demonstrations among Nigerians, which would ultimately result in the … Read more
Osinbajo has expressed concern over the rising scarcity of New notes. The Vice President voiced his concern after he met with several FinTech ecosystem participants and investors. Osinabjo advised authorities and banks to send more FinTechs and money agents to the hinterlands. EKO HOT BLOG reports that Vice President Yemi Osinbajo on Friday expressed worry … Read more
Buhari has pointed to commercial banks as the cause of the scarcity of new notes. According to Buhari, greed, selfish interest, and inefficiency of the commercial banks led to the scarcity of the new naira notes. Buhari said the CBN Governor, Godwin Emefiele, gave him assurances of enough capacity and manpower before he approved the … Read more
A pregnant woman lost her life due to a lack of new naira notes in Kaduna. Due to their lack of access to funds, the couples were unable to pay the mandatory hospital deposit. They were unable to withdraw cash, according to the victim’s spouse, so they decided to return home. EKO HOT BLOG reports … Read more
El-Rufai has slammed Atiku over his comment on the naira notes deadline. Atiku previously advised the CBN not to extend the deadline any further. According to the Kaduna Gov, Atiku is benefiting from the ‘suffering’ of Nigerians. EKO HOT BLOG reports that Governor Nasir El-Rufai of Kaduna State has accused the presidential candidate of the … Read more
El-Rufai has faulted CBN over the old naira notes swap deadline. The CBN has fixed February 10 as the deadline for the old notes swap. According to the Kaduna Gov, the CBN is causing needless pain to Nigerians with its policy. EKO HOT BLOG reports that the Governor of Kaduna State, Nasir El-Rufai, has faulted … Read more
Emefiele has blamed commercial banks for the scarcity of new notes. According to the CBN boss, some commercial banks are breaching the apex bank guidelines. Emefiele claimed that, since the introduction of the new naira notes, the scheme has had a success rate of almost 75%. EKO HOT BLOG reports that the Governor of the … Read more
Fani Kayode has stated that Emefiele’s move to change the naira notes is against Nigerian democracy. Emefiele, according to the former minister of aviation, “weaponised the apex bank.” Fani-Kayode also stated that the CBN governor is out to cause a crisis, provoke a people’s uprising and derail the country’s democracy. EKO HOT BLOG reports that … Read more
CBN has issued a fresh directive as a solution to new note scarcity. CBN has ordered banks to give N100 notes and below for over-the-counter transactions. The committee emphasised that customers are advised to conduct transactions through their alternative channels. EKO HOT BLOG reports that the Central Bank Of Nigeria, (CBN) has directed all commercial … Read more
Northern elders have lamented over new notes introduced by CBN. According to the group, the new currency is strangling the economy of the country. NEF urged the CBN to revisit and postpone the deadline for the swap. EKO HOT BLOG reports that the Northern Elders Forum, (NEF) has lamented over the redesign of the naira … Read more
CBN has told Nigerians to visit Money agents to swap their old notes ahead of the January 31 deadline. The bank urged to do the needful instead of going to commercial banks to wait for long queues all day at the banking hall. Alfa berated those rejecting the old notes ahead of the due date, … 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
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
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