The Central Bank of Nigeria seized N365.24m counterfeit notes between 2016 and 2020,
The figures were collated from the CBN’s annual report for each year available on its website.
The 2017 CBN annual report noted that the bank seized 77,576 pieces of counterfeit banknotes, valued at N51.45m in 2016.
The 2018 report showed that N93.43m fake notes were seized in 2017 and N98.82m in 2018.
The…
Naira Deadline: Banks and fuel stations reject old bills, ignoring Supreme court orders.
February 14, 2023
Some commercial banks and filling stations have stopped collecting the old naira notes from customers, contrary to the ruling of the Supreme Court restraining the Federal Government from enforcing the February 10 time limit earlier fixed by the apex bank for the currency…
Jaiz Bank, the Premier Non-Interest Bank in Nigeria has recorded a N.67 billion Profit Before Tax, at the close of its 2022 operation year.
The figure, according to the statement by the bank, yesterday, represented a significant increase in Profit Before Tax (PBT) by 52.63%…
Old Naira Note: We will follow the decision of the Supreme Court. FG said
February 10, 2023
The Federal Government has said it would obey the ruling of the Supreme Court suspending the February 10 deadline given by the Central Bank of Nigeria, CBN on the exchange of naira notes.
Recall that the apex court in its ruling on Wednesday, suspended the February 10 deadline on the old naira notes which expires today.
The Attorney General of the Federation, Abubakar Malami, who confirmed this in…
The Central Bank of Nigeria (CBN) has accepted culpability for the resultant chaos of the naira redesign and cash withdrawal policy, saying it didn’t anticipate them.
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Recall that angry Nigerians have been staging protests and attacking banks across the country amid…
Old Naira: Supreme Court decision overturned, invoke Executive Order- CSO's Buhari said.
February 9, 2023
The Civil Society Central Coordinating Council, the apex body of all civil society groups in Nigeria, has rejected the exparte order made by the Supreme Court restraining the CBN and President Muhammadu Buhari from terminating the use of the old N200, N500 and N1000 bank…
President Muhammadu Buhari has received the Governor Godwin Emefiele of the Central Bank of Nigeria, CBN, in Aso Rock, Abuja.
The meeting is holding hours after the Supreme Court, on Wednesday, ruled to stop the February 10 deadline for the validity of three old naira notes.
Recall that an interim injunction after an ex parte filed by Kogi, Kaduna and Zamfara state governments was granted by a…
As the shortage of new banknotes continues, more and more banks are closing.
February 9, 2023
As the naira shortage continued, more banks began closing their branches.
Even on Wednesday there were still long queues outside the ATMs of many commercial banks in Lagos, Ogun, Abuja and elsewhere. As the February 10 deadline for the old N1000, N500 and N200 banknotes…
The Supreme Court on Wednesday restrained the Federal Government from implementing the Friday deadline for the currency swap.
A seven-man panel of the apex court led by Justice John Okoro, in a unanimous ruling, granted an interim injunction restraining the Federal…
Sterling Bank said it has waived all personal account transaction fees in solidarity with customers facing a new naira shortage. Sterling Bank CEO Abubakar Suleiman made the announcement to clients via email. Here is part of an email to Sterling customers: Feb 6, 2023 – Feb 18, 2023.
We are also happy to announce that we are offering a free debit card to all interested customers. It’s…