10 Day After Supreme Court Ruling, CBN Okays Use of Old Naira Notes
Ten days after Nigeria’s Supreme Court ruled that the N200, N500 and N1,000 notes would remain legal tender until December 31, 2023, the CBN has acknowledged the court’s ruling. Last…
CBN Names Isa Abdulmumin as New Spokesperson
The Central Bank of Nigeria (CBN) has appointed Isa Abdulmumin as Acting Director of the apex bank’s Corporate Communications Department. Abdulmumin, a Deputy Director, succeeds Osita Nwanisobi as head of…
Naira Redesign: Evaluating the Effectiveness of CBN’s Communication
There is a popular theory that Nigerians are resilient. The CBN naira redesign policy put that famous theory to the test in several ways. People have been stretched in a…
BREAKING NEWS! Supreme Court Fixes March 3 for Judgement on New Naira Note
The Supreme Court on Wednesday adjourned judgement in the new naira policy suit to March 3, 2023. With the apex court’s decision, Nigerians, especially consumer and business groups as well…
Cellulant’s Payment Service Solution Provider Licence Renewed by CBN
The Central Bank of Nigeria (CBN) has renewed Cellulant’s Payment Service Solution Provider License in Nigeria. This license enables Cellulant to continue providing online and offline payment solutions, including collections,…
BREAKING: Buhari Extends Old N200 Notes Validity by 60 Days
President Muhammadu Buhari has extended the validity of the old N200 notes by 60 days. The President announced this in his nationwide address on Thursday, February 16, 2023. He said,…
CBN opens Portal for Old Naira Notes deposits
The Central Bank of Nigeria has opened a portal for the collection of old naira notes from people who still have the notes with them. The banking regulator opened the…
BREAKING: Nigerian Supreme Court Stops Old Naira Notes Deadline Implementation
The Supreme Court on Wednesday temporarily halted the move by the Federal Government through the Central Bank of Nigeria to ban the use of the old naira notes from February…
Traders, Buyers Adopt Online Cash Transfer as Naira Scarcity Lingers
Most traders and buyers have resorted to the use of online cash transfers because of the shortage of cash in the system following the Federal Government’s directive on Naira cash…
JUST IN: Real Reason CBN Extended Old Naira Expiration Deadline till February 10
The Central Bank of Nigeria (CBN) has extended the expiration of the three series of Naira which include the N200, N500, and N1,000 notes till February 10, 2023. This was…
Interswitch Secures CBN’s Payment Service Holding Company License
Interswitch Group one of Africa’s leading financial technology and integrated payments solution providers has announced receipt of a Payments Service Holding Company (PSHC) License issued by the Central Bank of…
CBN, NIBSS Set to Launch National Card Scheme for Nigeria
The Central Bank of Nigeria announced in 2022 that it will be launching a National Domestic Card Scheme in conjunction with the Nigeria Inter Bank Settlement Systems (NIBSS) Plc, the…
CBN Meets PoS Agents; Urge Supermarkets, Eateries to Reject old Notes
In a move to meet the January 31 deadline for the old N1,000, N500 and N200 notes to cease being legal tender, the Central Bank of Nigeria will on Monday meet…
Important things to Note as CBN’s Credit Card Takes Off
The Central Bank of Nigeria, CBN is set to launch the much-awaited domesticated credit card for use by the Nigerian banking population today. As reported by The Nation, the credit cards which…
Withdrawal Limit: PoS Operators Task CBN, Telecoms Companies on Uninterrupted Service
The stakeholders made the observation in separate interviews with the News Agency of Nigeria (NAN) on Thursday in Lagos. According to them, it is important to have PoS machines that…
CBN Places Over 6,000 BVNs on Watch List Over Fraudulent Transaction
According to information released by the Central Bank of Nigeria (CBN), there are at least 6,047 Bank Verification Numbers (BVNs) on its watch list due to fraudulent activities. This was…
CBN Makes U-turn, Increases Withdrawal Limit to 500,000 Weekly
he CBN also warned all banks and other financial institutions that aiding and abetting circumvention of the new policy will attract severe sanctions. The Central Bank of Nigeria (CBN) has…
Banks Reconfigure ATMs As New Naira Enters Circulation Today
The newly redesigned naira notes will go into circulation on Thursday (today) with Deposit Money Banks releasing the bills to their customers via over-the-counter payments. This came about three weeks…
House of Reps order CBN to suspend new cash withdrawal limits
n a stunning turn of events, the Central Bank of Nigeria (CBN) has been ordered by the House of Representatives to suspend the new cash withdrawal limits it announced on…
5 Things to Know About the CBN’s New Policy on the Naira
Nigerians had opportunity to see the new banknotes after they were unveiled by President Muhammadu Buhari during the Federal Executive Council (FEC) meeting at the Presidential Villa, Abuja. The unveiling…