THE Central Bank of Nigeria (CBN) has threatened to sanction banks and Point of Sales (POS) operators found to be complicit in the current Naira scarcity crisis. The apex bank, in a statement on Thursday, urged members of the public to report infractions, especially hoarding of Naira by Banks and POS operators, in their areas…
The Central Bank of Nigeria (CBN) has disclosed reason for naira scarcity across the nation, saying that, some individuals are hoarding the currency. Speaking to The Cable on Wednesday, the apex bank’s acting director, corporate communications, Sidi Ali said the situation was being addressed. She said the CBN had released sufficient cash to its branches…
The apex bank announced plans to extend the validity of the old N200, N500, and N1,000 notes indefinitely. The bank noted that it was working with relevant authorities to vacate the subsisting court ruling on the same subject. Despite moves by the Central Bank of Nigeria (CBN) to formally extend the validity of the old…
