The Central Bank of Nigeria (CBN) has reassured the public that there is no set deadline for the use of old Naira notes. The assurance was contained in a statement issued by Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications. This clarification addresses false reports circulating that the N200, N500, and N1,000 notes would…
The case was adjourned to November 13, 2024, for continuation of trial. Stephen Salau Gana, the 10th Prosecution Witness, (PW10) in the trial of former governor of Central Bank of Nigeria, Godwin Emefiele, has disclosed how Emefiele awarded contracts without bidding processes in violation of procurement act. The Economic and Financial Crimes Commission (EFCC) is…
The presidency has refuted reports that President Bola Tinubu ordered Central Bank of Nigeria (CBN) Governor Olayemi Cardoso to resign. Tinubu had been claimed to have dismissed Cardoso due to his inability to halt the naira’s decline and address economic challenges. According to the report, Tinubu supposedly issued the order before departing for China, despite…
The Central Bank of Nigeria has kept mum two days after a report emerged that its Governor, Olayemi Cardoso and four deputy Governors acquired six ultra-modern armored vehicles worth N10 billion despite the hardship Nigerians are facing. Recall that a newspaper report, (not Ekwe Anaedo) on August 30, 2024, reported that Cardoso and deputy governors,…
The Federal High Court in Abuja has summoned the Governor of the Central Bank of Nigeria (CBN) and the Head of the Legal Services Department to appear before it on Monday, September 2, with specific documents related to the money laundering case against Binance Holdings Limited and its executives. The court has requested the CBN…
The Association of the Bureau De Change Operators of Nigeria (ABCON) says the Nigerian currency Naira has appreciated faster than expected against the United States’ Dollar. The President of the Association, Aminu Gwadabe, said this on a television programme on Tuesday. Gwadabe said as of Tuesday afternoon, the BDC operators buy the dollar at N980/$1…
Former governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, through his legal team, has threatened to sue President of the Nigerian Senate, Godswill Akpabio over alleged defamation. Emefiele would demand N25 billion in damages from the Senate President if he fails to apologise, according to his solicitors. This was contained in a letter…
The Central Bank of Nigeria has debunked reports that it is considering a policy to convert foreign currencies in domiciliary accounts of citizens to naira to stabilise the national currency. Acting Director of Communications at the CBN, Sidi Ali Makama made the disclaimer in a press statement released today, 3rd of February, 2024. Recall that…
Amid its fresh moves to stabilise the nation’s volatile exchange rate, the Central Bank of Nigeria has ordered Deposit Money Banks to sell their excess dollar stock latest February 1, 2024. The CBN, which made the disclosure in a new circular released on Wednesday, also warned lenders against hoarding excess foreign currencies for profit. According…
The Central Bank of Nigeria has changed its stance on crypto assets in the country and asked banks to disregard its earlier ban on crypto transactions. This is according to a circular dated December 22, 2023, and signed by the apex bank’s Director, Financial Policy and Regulation Department, Haruna Mustafa. The circular is titled ‘Circular…
