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% from the N4.37 billion recorded in December 2021.
The bank also declared a 29.35% increase in gross earnings, from…
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…
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 notes.
The group therefore called on President Buhari to immediately consider issuing Executive Orders to bring to effect the…
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…
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 Government, the Central Bank of Nigeria and commercial banks from implementing the Friday terminal date for the old naira notes.
Also…
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…
As the naira scarcity persists, some banks are shutting their branches over rising customer attacks,
This came a day after the Lagos State Police Command issued a warning that some groups were planning to unleash violence in the state due to the naira scarcity.
Some of the…
The Central Bank of Nigeria may fine banks hoarding new notes a sum of N5m and members of the public selling the new notes N50,000.
This was based on the Central Bank of Nigeria Act of 2007 and the Banks and other Financial Institutions Act of 2020.
According to the Banks and other Financial Institutions Act, 2020, the CBN governor may propose to alter, rescind or enforce fresh or more conditions…