Emefiele apologizes to Nigerians for online transaction failures The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has apologised to Nigerians for the rise in failed electronic banking transactions. Nigerians have suffered hardships while conducting e-transactions after the CBN implemented the Naira redesign policy. The CBN boss addressed…
CBN raises interest rate to 18% The Monetary Policy Committee of the Central Bank of Nigeria has voted to increase the benchmark interest rate by 50 basis points to 18. per cent, The PUNCH reports. The CBN Governor, Godwin Emefiele, disclosed this while reading the communiqué of the second MPC meeting of…
Naira crisis: More states battle FG, clamp down on outlets rejecting old notes Recall the governments of Kaduna, Kogi, and Zamfara states had filed a suit challenging the February 10 deadline announced by the Central Bank of Nigeria as the last day of the currency swap which would see Nigerians end the…
Naira redesign: CBN pushes for more adoption of e-payment as January 31 deadline approaches Most Nigerians have been caught in a fix as they try to beat the January 31 deadline set by the CBN to return all their old N200, N500 and N1000 naira notes as the notes will…
Redesigned Naira: 6 important details to note as CBN launches cash-swap program Recall the apex bank had announced January 31, 2023 as the deadline date for depositing the old naira notes. The CBN had mandated the Deposit Money Banks, DMBs to load the new notes in their ATMs with sanctions to…
We’ve been begging banks to come and pick up redesigned naira notes — CBN Weeks after their unveiling, the new naira notes remain scarce as ATM machines in many commercial banks still dispense old notes. The Central Bank of Nigeria (CBN) has explained the reason the redesigned naira notes are still…
Top 5 Banks in Nigeria by customer loans in 2022 Business Insider presents the top 5 Banks in Nigeria by customer loans in 2022. This list is courtesy of Business Day Nigeria. Data for Business Day’s list was obtained from the Nigerian Exchange Group (NGX). Like many other sectors in…
PoS operators speak on increasing service charge over new cash withdrawal policy The group, via their registered community known as the Association of Mobile Money and Bank Agents in Nigeria, AMMBAN has confirmed that the decision of the CBN to review cash withdrawal limits for customers will not affect their businesses for…
CBN cash limit will tackle vote-buying – ZLP chair The National Chairman of the Zenith Labour Party, Dan Nwanyanwu, on Tuesday, said the new cash withdrawal limit policy by the Central Bank of Nigeria was a perfect strategy to check vote-buying in the forthcoming elections. This was as he revealed…
Group protests, seeks NASS support for CBN’s cashless policy Initiatives for Patriotic Nigerians, march to the National Assembly, on Thursday, seeking support for the Central Bank of Nigeria’s (CBN’s) cashless policy and Naira redesign. The protesters included children, men and women, who marched from the federal secretariat building to the…