The Central Bank of Nigeria, CBN has denied an earlier report that it ordered commercial banks to begin collecting the old N500 and N1000 notes from customers. A report which went viral on Thursday claimed the CBN pegged the maximum amount the commercial banks can collect at N500,000. But the …
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The Central Bank of Nigeria, CBN, has ordered commercial banks to start collecting the old N500 and N1,000 notes from the public immediately. It stated that the maximum amount customers can swap will be N500,000. The Director of Corporate Communications, Osita Nwanisobi, exclusively disclosed this to Newsextra24 in an interview …
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The Central Bank of Nigeria, CBN, has informed citizens that there will be no cash swap for old notes in any financial institution. The CBN already declared the old N200, N500 and N1000 are no longer recognized as legal tender, despite a Supreme Court ruling. The apex bank on Tuesday …
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The Governor of the Central Bank of Nigeria (CBN) has warned that Point of Sale (PoS) operators who charge above N200 for the cash swap programme will be arrested and jailed if caught. The Director, Governor’s Department, CBN, Joseph Omayuku, stated this while briefing journalists in Yenagoa, Bayelsa State. Omayuku …
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Today marks the end of the Central Bank of Nigeria’s deadline to phase out the circulation of old Naira notes; however, the silence by the country’s apex bank over the Supreme Court’s judgement restraining it from implementing the deadline has left Nigerians confused. On Wednesday, the country’s apex court, in …
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Nigerians, especially bank customers, were gripped with confusion and uncertainty over whether today’s deadline by the Central Bank of Nigeria for the phasing out of the old naira notes still remains or it has been suspended following the Supreme Court injunction obtained by some northern governors. The Supreme Court had …
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The Central Bank of Nigeria, CBN, on Thursday promised to supply commercial banks with plenty of funds to address the new Naira note scarcity in Kogi State. Kogi CBN Branch Controller, Ahmed Sule, made the vow while speaking with NAN in his office in Lokoja. Recall that protesters had on …
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Dele Farotimi, a Public Affairs Analyst and a retired Lawyer has reacted to the Supreme Court ruling against the Central Bank of Nigeria, CBN, on the use of old naira notes. The apex court judgement annulled the CBN deadline of February 10 as the last date the old notes would be acceptable. …
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The Central Bank of Nigeria (CBN) Tuesday said it would withdraw the licenses of Point of Sale (PoS) agents found culpable of inflating the charges on customers who withdraw money from their POS in the state. Daily Trust reports that POS operators in the state are collecting between N1000, N1500 and N2000 …
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A Federal Capital Territory, FCT, High Court has restrained the Central Bank of Nigeria, CBN, from extending the deadline for the use of the old naira notes. The court also ordered the CBN to fully implement the redesigned naira. Eleojo Enenche, presiding judge, gave the order while delivering ruling in …
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