FOLLOWING the new naira notes swap policy by the Central Bank of Nigeria, CBN, Point of Sales, POS, operators have resorted to exploiting Nigerians. Prior to the introduction of the policy, POS operators charged N100 for every N1000 cash withdrawal, but the situation has changed. Newsextra24 reports that POS operators …
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The Central Bank of Nigeria (CBN) has directed commercial banks to start paying the redesigned naira notes to customers over the counter. In a statement on Thursday, Godwin Emefiele, CBN governor, said the new directive was to alleviate the challenges that Nigerians are experiencing with getting access to the new …
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The Central Bank Of Nigeria, (CBN) has directed all commercial banks to pay customers over the counter in N100, N50, N20, N10, and N5 notes, regardless of the amount withdrawn. Naija News reports that Bankers Committee issued the directives to all commercial banks in the country on Monday, and also announced …
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The Central Bank of Nigeria (CBN) says it has deployed more new notes to Bonny Island following agitations by residents over scarcity. Residents of Bonny Island like most Nigerians had last week, complained over the possibility of being left out of the naira swap exercise following the scarcity of the …
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The Department of State Services (DSS) said it has intercepted some syndicates in parts of the country for allegedly selling the newly redesigned Naira notes. This is contained in a statement issued by Dr Peter Afunanya, the Public Relations Officer of the DSS, on Monday in Abuja. He said the …
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The Central Bank of Nigeria, CBN, finally bowed to pressure on Sunday after vowing not to extend the January 31 deadline for the swap of the old naira notes. CBN Governor, Godwin Emefiele, last Tuesday, at a meeting of the Monetary Policy Committee in Abuja, ruled out the postponement. “Unfortunately, I …
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The Central Bank of Nigeria, CBN, has vowed to impose stiffer sanctions on financial institutions hoarding the new naira notes. The apex bank issued the threat on Wednesday in reaction to the allegation that enough notes were not released. Musa Jimoh, Director of the Payment System Management Department, denied the …
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Mixed reactions have continued to trail the Central Bank of Nigeria’s decision to increase the Monetary Policy Rate (MPR) benchmark, also known as the interest rate, from 16.6 per cent to 17.5 per cent to tackle inflation. Recall that the Governor of CBN, Godwin Emefiele, in a communique on Tuesday, …
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Economic experts have said Nigerians would lose their hard-earned money over the Central Bank of Nigeria’s refusal to extend the January 31 deadline for phasing out N200, N500 and N1000 notes. Recall that the Governor of CBN, Godwin Emefiele, said there is no going back on the deadline shortly after the Monetary …
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The Central Bank of Nigeria, CBN, has ruled out an extension of the January 31 deadline for naira deposits. CBN Governor, Godwin Emefiele confirmed this on Tuesday at a meeting of the Monetary Policy Committee in Abuja. Emefiele responded to a question on the extension of the ultimatum following complaints …
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