Tag: CBN

‘Emefiele not involved in Lagos State politics’ – CBN

Aminu Imam

The Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has no involvement in politics, especially as regards the March 18 governorship election in Lagos State, the bank stated yesterday, in Abuja. Its acting Director, Corporate Communications, Mr Isa AbdulMumin, made the declaration in reaction to a newspaper report, titled: “Emefiele launches fresh plot against President-elect, Tinubu’’. According to the newspaper report, Emefiele gave money to a certain candidate in the Lagos State governorship election to spite the president-elect, Sen. Bola Tinubu. However, AbdulMumin said the story is completely false and…

Read More

CBN reacts to Gov. Soludo’s claim on acceptance of old notes

Aminu Imam

The Central Bank of Nigeria, (CBN), has issued a clarification on claims that it’s directed commercial banks to dispense and accept the deposit of old Naira notes amid the raging currency crisis. Acting Director of Corporate Communication CBN, Dr. Isa AbdulMumin, in an interview yesterday, clarified that there is no statement from the apex bank telling commercial banks to dispense and accept the old N500 and N1000 notes from Nigerians. AbdulMumin was reacting to a statement by the Governor of Anambra State, Prof Chukwuma Soludo, claiming the apex bank had…

Read More

CBN debunks statement on N500, N1, 000 notes

Aminu Imam

The Central Bank of Nigeria (CBN) has debunked online reports making rounds, claiming the apex bank has approved the circulation of old naira notes till December 31, 2023. Acting Director Corporate Communications, Isa AbdulMumin, who spoke with newsmen on Wednesday, declared the report as ‘fake news’. The report quoted him as saying he confirmed the development, saying both the old and new notes are legal tender and banks are currently issuing to customers. However, the apex bank’s spokesman urged Nigerians to disregard it and avoid purveyors of ‘fake news’. Some…

Read More

CBN makes U-turn, directs banks to collect old N500, N1, 000 notes

Aminu Imam

… Confusion as customers reject bank’s old Naira notes The Central Bank of Nigeria, (CBN), 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. A source from the bank said the CBN ordered the banks to collect the monies instead of going to the CBN office following difficulties encountered in getting access to the bank. A CBN official said, “Go to your bank but fill out the…

Read More

CBN replaces Nwanisobi with Isa AbdulMumin as spokesperson

Aminu Imam

The Central Bank of Nigeria, (CBN) has announced the appointment of Isa AbdulMumin as its Acting Director of Corporate Communications Department. AbdulMumin, a Deputy Director, takes over from Osita Nwanisobi following his retirement from service on Friday. AbdulMumin has been in the Corporate Communications Department of the CBN since he joined the apex bank. Nwanisobi took over from Isaac Okorafor in 2020. Before then, he was a special assistant to the Deputy Governor, Financial System Stability (FSS), between 2009 and 2011.

Read More

CBN denies directing banks to accept old N500, N1,000 notes from customers

Aminu Imam

The Central Bank of Nigeria (CBN) has warned members of the public to disregard fake messages circulating on social media about the authorisation of Deposit Money Banks (DMBs) to collect old N500 and N1,000 banknotes from the public. Reports emerged yesterday, that the apex bank had made a u-turn and directed banks to collect old notes from Nigerians. However, reacting to the report in an issued statement yesterday, by its director of Corporate Communications, Osita Nwanisobi, the apex bank said it never gave such a directive. According to the statement, …

Read More

CBN Cash Swap Policy: El-Rufa’i calls for civil disobedience, tells Nigerians keep spending old Naira

Aminu Imam

Kaduna State Governor, Nasir el-Rufa’i, has called on Nigerians to keep spending the old naira notes, a directive that is in defiance of the Federal Government’s currency swap policy. The Governor made the assertion while speaking with a political audience in the State, urging them to stop thronging banks to swap their old notes or obtain new ones. The Godwin Emefiele-led CBN had said old denominations of the N200, N500 and N1,000 notes would cease to be Nigerian legal tender from February 10 as a major plank of its new…

Read More

CBN to meet banks, PoS operators, telcos over charges

Aminu Imam

The Central Bank of Nigeria (CBN) says it will meet with the deposit money banks (DMBs) Mobile Money Operators (MMOs) and Telcos over excessive charges by Point of Sale (PoS) operators. The CBN Governor, Godwin Emefiele, stated this while briefing the media on the implementation of the redesigned naira on Friday, in Lagos. Following the scarcity of the redesigned naira notes, PoS operators are charging 10 percent of the amount a customer wants to withdraw. He said the cash limit of N20,000 may be increased as time goes on, and…

Read More

Naira Swap: ‘Why CBN shouldn’t extend Feb 10 deadline’ – Atiku

Aminu Imam

…Says vote buyers behind extension plot The Presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has has urged the Central Bank of Nigeria (CBN) not to further extend its February 10 deadline for swapping the old naira notes with the newly redesigned naira notes. The PDP flagbearer, who stated his position on the issue in an issued statement, accused people who want to engage in vote buying as well as use money to corrupt the electoral system in the forthcoming general election of being against the cashless policy…

Read More

Naira Currency: “You target the rich, but will harm the poor, extend deadline” – NLC tells CBN

Aminu Imam

President of the Nigeria Labour Congress (NLC), Comrade Ayuba Wabba, yesterday, joined the Red Chamber of the National Assembly on the call for the Central Bank Of Nigeria (CBN), to extend the date for the stoppage of the use of the highest denominations of Nigeria’s currency. Comrade Wabba made this call when he responded to questions during a media engagement with members of the Labour Correspondents Association of Nigeria, (LACAN), in Abuja. The NLC President strongly kicked against the insistence of the CBN to implement its policy on none usage…

Read More