The Central Bank of Nigeria (CBN) has clarified that all naira banknotes, including the old and new designs of the ₦1000, ₦500, and ₦200 denominations, as well as the commemorative and previous designs of the ₦100 note, remain valid legal tender indefinitely, with no set deadline. EKO HOT BLOG reports that In a statement signed … Read more
The Central Bank of Nigeria (CBN) has denied fixing deadline for the circulation of the old N200, N500 and N1,000 banknotes. The Acting Director, Corporate Communications Department of the CBN, Hakama Sidi Ali, said this in a statement on Thursday in Abuja. Sidi-Ali was reacting to social media reports that the apex bank had fixed … Read more
Eko Hot Blog reports that the Central Bank of Nigeria, CBN, has issued a fresh directive to all banks and Nigerians regarding accepting old and redesigned Naira notes. CBN issued the directive on Wednesday in a statement by its Acting Director of Corporate Communications, Mrs Sidi Hakama. The bank emphasised that all bank notes, including … Read more
Akeredolu has issued a new directive to Ondo residents regarding the Old Naira Notes. In a state-wide broadcast on Thursday, the Governor stated that refusal to accept the old notes would be considered disobedience of a court order. Akeredolu added that if residents of Ondo State continue to reject the money, it would only inflict … Read more
Ten states have called for Supreme Court intervention to nullify Buhari’s directive on new naira notes. The states have asked the apex court to declare the new directive “unconstitutional.” President Buhari had directed the Central Bank of Nigeria to recirculate only the old N200 notes. EKO HOT BLOG reports that a request has been made … Read more
Buhari has extended the validity of the old 200 Naira notes. Buhari made this known on Thursday morning during his nationwide broadcast. The president said all existing old N1000 and N500 notes remain redeemable at the Central Bank of Nigeria (CBN). EKO HOT BLOG reports that President Muhammadu Buhari has announced the extension of the … Read more
The Supreme Court has upheld the validity of old naira notes as legal tender. The court issued the ruling on Wednesday in response to a lawyer’s complaint. The Court, however, fixed February 22 for hearing the suit filed by Kaduna, Kogi, and Zamfara states challenging the propriety of the naira swap policy of the Federal … Read more
The CBN has announced the discontinuation of old Naira notes as legal tender in Nigeria. The CBN said old Naira notes of N200, N500, and N1000 have ceased to be legal tender. The declaration was made by the Branch Controller of the Central Bank of Nigeria (CBN), Bauchi, Haladu Idris Andaza. EKO HOT BLOG reports … 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
By Min Eddie The CBN was set to phase out the use of the old N200, N500, and N1,000 notes from February 1, 2023. However, the apex bank faced various calls to extend the deadline due to the shortage of the new notes. The CBN has now bowed to pressure by extending the deadline. Eko … Read more
Ganduje has urged the government to extend the January 31 deadline set by the Central Bank of Nigeria. The call is coming following a meeting by the state governor Ganduje, top government officials, and Islamic clerics at the Government House on Thursday. Ganduje noted that economic activities had been paralysed in Kano due to hardship … Read more