Three Banks Looted By Hoodlums In Rivers
In Port Harcourt, the Rivers State capital, hoodlums destroyed three commercial banks and looted properties in protest of the Central Bank of Nigeria's naira redesign policy. According to PUNCH, the affected institutions on Friday afternoon were First Bank in Churchill and Keystone Bank along Aggrey Road, both in the old Port Harcourt Township area of Port Harcourt. Customers destroyed the First...
CBN Order Banks To Resume Collection Of Old N500, N1000 Notes (See Detail)
The Central Bank of Nigeria has directed banks to begin collecting old N500 and N1,000 notes from the public as soon as possible. It did, however, set the maximum amount that banks could collect at N500,000. The CBN insisted that the old currencies were no longer legal tender. According to a bank source, the CBN ordered the banks to collect the funds...
Cash Swap: FG Wants Only N200 Old Notes To Remain Legal Tender Till April – El-Rufai
Nasir El-Rufai, Governor of Kaduna State, has revealed that the Federal Government has proposed that only the old N200 notes remain legal tender until April 10, 2023. Muyiwa Adekeye, Governor El-Rufai's Special Adviser on Media and Communication, stated this on Wednesday. The governor denied reports that the governors of the All Progressives Congress met with the federal government on Wednesday. He did, however,...
President Buhari Reportedly Set To Extend Validity Of Old Naira Notes Till April 10
President Muhammadu Buhari is reportedly considering extending the validity of old 200, 500 and 1000 naira notes by 60 days. TheCable reports that this is to avoid disobeying the order of the Supreme Court of Nigeria which ruled that the old notes remain valid until it delivers judgment in the case filed by some states against the federal government. The CBN...
Bus Conductor, Passengers Exchange Hot Blows Over Old Naira Notes In Kaduna
Following the deadline for the acceptance of old currency as legal tender by the Central Bank of Nigeria, bus conductors, and passengers on Wednesday exchanged blows over the former’s refusal to accept old notes as transport fare in Kaduna. Trouble started when a ten-passenger bus operating from Sabon Tasha Community, in Chikun Local Government Area of Kaduna State, heading towards...
Court Grants Nollywood Actress, Oluwadarasimi Omoseyi N5m bail
Oluwadarasimi Omoseyin, a Nollywood actress charged with alleged tampering and spraying of the redesigned Naira notes, was granted N5 million bail by a Federal High Court in Lagos State on Wednesday. The Economic and Financial Crimes Commission (EFCC) preferred two counts of charges against Omoseyin, who was arraigned before Justice Chukwujekwu Aneke on Monday. The charge was preoccupied with spraying and...
Yahaya Bello Breaks Silence On Why He, Gov. El-Rufai Stormed Supreme Court Over Naira Notes
Governor Yahaya Bello of Kogi state has explained the reason why he and Governor Nasir el-Rufai stormed the Supreme Court hearing on the old naira notes on Wednesday. The Supreme Court of Nigeria on Wednesday held a brief hearing as regards the case on the naira swap policy of the Central Bank of Nigeria (CBN). The case, however, was adjourned to...
Old Naira Notes Have Lost Their Legal Tender Status, CBN Declares
The Central Bank of Nigeria (CBN) has declared that the old Naira Notes of N200, N500 and N1000 have ceased to be legal tender in Nigeria since the 10th of February, 2023. The declaration was made by the Branch Controller of the Central Bank of Nigeria (CBN), Bauchi, Haladu Idris Andaza while briefing Journalists on Monday at the CBN, branch...
CBN Says It Disburses New Naira Notes Daily
The Central Bank of Nigeria (CBN) says it allocates new naira notes to banks on a daily basis. CBN Director, Consumer Protection, Mrs Rashidat Monguno, said this in Offa, Kwara State, on Thursday, attributing scarcity of the redesigned notes to sabotage by some commercial banks. Monguno, who was on an exercise to monitor microfinance banks, said, ”There is naira out there,...
ANAN President, Prof. Osisioma Tasks Leaders On Sustainable Consumption
The National President of Association of National Accountants of Nigeria (ANAN), Rev. Canon Prof. Chuka Osisioma has urged leaders across the country to imbibe the culture of sustainable consumption as a means of protecting the future for younger generations. "We seem to be consuming our present and our future. If we continue with the rate at which we are going,...
