The Central Bank of Nigeria, CBN, has revised the deadline for the legal tender status of old N200, N500, and N1000 notes. Initially set for December 31, 2023, this deadline has now been removed indefinitely. CBN Logo This was confirmed in a…
The Central Bank of Nigeria, CBN recently addressed concerns about the scarcity of the Naira, attributing it to high-volume withdrawals by Deposit Money Banks, DMBs and panic withdrawals from Automated Teller Machines, ATMs. Central Bank of Nigeria Headquarters, Abuja Despite the reassurance…
The Central Bank of Nigeria, CBN, has on Friday, 18th August 2023, released a fresh operational guidelines for Bureau de Change, BDC, operators in the country. The guideline, has fixed the allowable limits by BDC’s at the Nigeria Foreign Exchange Market. The…
The Department of State Service, DSS, has condemned the incident involving its officials and personnel of the Nigerian Correctional Service, NCS, at the Federal High Court in Lagos. Operatives of the DSS and prison officials engaged in a brawl on the court…
A Federal High Court sitting in Lagos has granted the suspended Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, bail on Tuesday, 25th July, 2023. Justice Nicholas Oweibo granted Emefiele bail in the sum of 20 million Naira and a…
The suspended Central Bank of Nigeria, CBN Governor, Godwin Emefiele, has been arraigned before Justice Nicholas Oweibo at the Federal High Court sitting in Ikoyi, Lagos on 2 counts of illegal possession of firearms and ammunition on Tuesday, 25th July, 2023. Emefiele…
The Association of Mobile Money and Bank Agents in Nigeria, AMMBAN, said there is no going back on implementing its new service charges framework on Monday, 17th July 2023. PoS agents said it has become paramount adjusting their prices to reflect the country’s…
The Central Bank of Nigeria, CBN, has announced that customers can now send remittances in naira from any part of the world. This decision was shared in a circular dated 10th July, 2023, by the CBN’s Director of Trade and Exchange Department,…