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
The Central Bank of Nigeria has directed Deposit Money Banks to start disbursement of old N1,000, N500, and N200 notes to the public. The CBN will release all old notes in its custody to commercial banks, canceling all controversial cash withdrawal limits. Bank customers will no longer be required to generate any code before depositing … Read more
Some oil Marketers are still rejecting old notes despite CBN directives. The CBN announced on Monday that old notes now remain legal tender. Lamenting about the situation an oil Marketers asked the government to provide surplus of the new notes rather than parading old ones. EKO HOT BLOG reports that oil marketers, on Monday, insisted … Read more
Abia state government has adviced all citizens to carry out their normal transactions with old notes. This is coming after the Supreme Court order to extend usage of old notes. The governor also state that those caught going again the law would face punishment. EKO HOT BLOG reports that the Abia State governor, Okezie Ikpeazu, … Read more
CBN has officially announced the extension of deadline for old notes. This is coming some days after the Supreme Court order on old notes. The old notes will remain a legal tender till December 31st. EKO HOT BLOG reports that the Spokesman of the Central Bank of Nigeria (CBN), Isa Abdulmumin, has said both the … Read more
Banks have told Nigerians that re-issuing old notes can only be done with an order from CBN. The Supreme court last week ordered an extension of the use of old notes. The FG is yet to obey the Court order or address Nigerians on the issue. EKO HOT BLOG reports that Banks are divided over … Read more
CBN has reacted to the circular recently released by Aisha Buhari on old notes. The CBN urged citizens to disregard the statement, as it was fake and misleading. It also warned citizens against spreading fake news, stating that Perpetrators would face prosecution. EKO HOT BLOG reports that the Central Bank of Nigeria (CBN) has issued … 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
El-Rufai has rejected Buhari’s New Directive on the Naira notes swap. Buhari recently declared that Old N1000 and N500 notes are no longer legal tenders. According to the Kaduna Governor, old N1000 and N500 notes were banned because they have already been destroyed. EKO HOT BLOG reports that State Governor, Malam Nasir El-Rufai, has declared … Read more
Passengers were stranded as the Nigerian Railway Corporation (NRC) refused to accept old Naira notes for ticket purchases. The morning train to Ibadan faced potential disruption due to the rejection of old notes. The situation caused confusion, with some passengers left behind and others vowing to protest if they are denied access due to old … 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
Adamu Garba has reacted to the IMF’s request over the deadline date for the old notes swap. The IMF urged the FG to consider the condition of the citizens and extend the date. According to the APC chieftain, FG must extend the deadline so we can face the election. EKO HOT BLOG reports that a … 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
House of Reps has kicked against the extension of the deadline for old notes. Godwin Emefiele on Sunday announced that the deadline has been extended by ten days. The House on Tuesday constituted the ad hoc committee to look into the deadline set by CBN. EKO HOT BLOG reports that the ad hoc committee on … Read more
Some Nigerians have started rejecting old notes, one week before CBN’s deadline. According to reports, businesses in Sokoto on Monday have started rejecting the old naira notes. A resident explained that most banks in the state still paid customers with the same old naira notes. EKO HOT BLOG reports that the residents in Sokoto State … Read more