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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As the 31 January 2023 deadline given by the Central Bank of Nigeria, CBN, to phase out the old naira notes inches closer, economic experts have said that refusing to extend the deadline is insensitive and would spell doom for the country’s economy. The call is an addition to several …
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The Central Bank of Nigeria, CBN, has warned of consequences for commercial banks found to be stocking their Automated Teller Machines (ATM) with old notes scheduled to cease to be legal tender by 31st January. Speaking on Thursday in Lokoja, the Kogi State capital, during the sensitisation of market people …
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The Central Bank of Nigeria, CBN, said there is no going back on the 31 January deadline to stop using old bank notes in the country. CBN Dutse branch controller, Jigawa State Hajiya Sa’adatu Ibrahim stated this when she visited Dutse Central market while sensitizing traders. Sa’adatu gave several reasons …
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THE Central Bank of Nigeria, CBN yesterday said that it has been begging banks to come and collect the new N200, N500 and N1,000 naira notes. The apex bank also disclosed it stopped withdrawal to curb abuse and adding that disbursement of the new naira notes has been restricted to ATMs in order to …
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The Senate President, Ahmad Lawan, has given the Governor of the Central Bank of Nigeria, Godwin Emefiele and Minister of Finance, Budget and Planning, Zainab Ahmed, a three-day ultimatum to provide details on the N23.7 trillion Ways and Means debt restructuring request made by President Muhammadu Buhari last year. The …
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The Central Bank of Nigeria, CBN, has given a fresh update on the deadline to phase out old naira notes. CBN disclosed this on Monday in a bulk message to Nigerians. Nigeria’s apex bank urged Nigerians not to wait until January 31, 2023, the deadline, before depositing their old naira …
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Barely eighteen days before the deadline set by the Central Bank of Nigeria, CBN, for the stoppage of the circulation of the old Naira notes, the apex bank has indicated it won’t extend the deadline. CBN in a Facebook post on its verified page on Friday reminded Nigerians that new …
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