Tag: Cbn

The Central Bank of Nigeria has ordered banks to start collecting the old N500 and N1,000 notes from the public with immediate effect. It however pegged the maximum amount the banks can collect at N500,000. The CBN maintained that the old currencies were still no more legal tender. A source from the bank said the…

The Supreme Court on Wednesday ruled that the old 200, 500 and 1000 naira notes are still recognised as legal tender in Nigeria. The apex court made this known while reinstating its order stopping the Nigerian government and its agencies from implementing the February 10 deadline. The court issued the clarification in response to a…

The Supreme Court has adjourned the suit filed by governors to challenge the naira redesign policy of the Central Bank of Nigeria (CBN). CBN had originally fixed January 31 as deadline for old notes to be in circulation but extended it in response to pressure from Nigerians. However, before the February 10 deadline, Kogi, Kaduna…

Government at federal and state levels have been called upon to ensure wholiistic approach to end the crisis,engineered by the central bank of Nigeria monetary policy with particular reference to the redesignation of the country’s currency. The Association of Veteran Journalists Osun state Chapter made the call in a Communique issued at the end of…

…Council approved the naira redesign policy of the CBN but faulted its implementation. The Council of State has advised President Muhammadu Buhari to direct the Central Bank of Nigeria (CBN) to print more redesigned naira notes or allow the new and old banknotes circulate concurrently to ease tension caused by scarcity of cash. The Council…

The Supreme Court on Wednesday temporarily halted the move by the federal government to ban the use of the old naira notes from February 10, 2023. A seven-member panel led by Justice John Okoro, halted the move of the federal government in a ruling in an exparte application brought by three northern states of Kaduna,…

Justice Eleoje Enenche of a High Court at the Federal Capital Territory in Abuja on Monday restrained the Federal Government and 27 listed commercial banks from suspending, stopping, extending or interfering with the currency redesignation terminal date of February 10 or issuing any directive contrary to the date. Also restrained were the President, Major General…

Justice Eleoje Enenche of a High Court at the Federal Capital Territory in Abuja on Monday restrained the Federal Government and 27 listed commercial banks from suspending, stopping, extending or interfering with the currency redesignation terminal date of February 10 or issuing any directive contrary to the date. Also restrained were the President, Major General…

“Thirteen” out of the 18 political parties in Nigeria have threatened to withdraw from the February 25 and March 11 general elections in Nigeria over the naira redesign policy of the Central Bank of Nigeria (CBN). The parties said they won’t be interested in the elections if CBN’s new deadline of February 10, 2023 for…

“Thirteen” out of the 18 political parties in Nigeria have threatened to withdraw from the February 25 and March 11 general elections in Nigeria over the naira redesign policy of the Central Bank of Nigeria (CBN). The parties said they won’t be interested in the elections if CBN’s new deadline of February 10, 2023 for…