Just another News Updates
The Central Bank of Nigeria (CBN) on Monday said old N200, N500, and N1,000 banknotes remain legal tender Till December 31, 2023. The apex bank’s Acting Director of Corporate Communications, Isa AbdulMumin stated this in a statement on Monday. “In compliance with the established tradition of obedience to court orders and sustenance of the Rule […]
State governments, which sued the Federal Government (FG) on the naira redesign policy, have given the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, SAN, and the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, till Tuesday to comply with the Supreme Court order extending the validity of the […]
Deposit Money Banks (DMBs) across the country yesterday began rejecting deposits of old naira notes (N1,000 and N500), after paying customers, forcing business owners, retailers to begin rejecting the old naira notes despite the Supreme Court’s extension of the validity of old notes to December 31, 2023. Findings across different banks revealed that despite the […]
The Supreme Court has adjudged the cash withdrawal limits imposed by banks as a result of scarcity of currency notes in circulation as a violation of citizens’ rights. A seven-man panel of the court led by John Okoro made the declaration in a unanimous judgement delivered on Friday. “Such restriction on an owner’s right to […]
The Supreme Court has ordered the circulation of the old naira notes alongside the new ones until December 31. In a unanimous judgment, a seven-member… In a unanimous judgment, a seven-member panel of justices presided by Justice Inyang Okoro on Friday held that the directive by President Muhammadu Buhari to the Central Bank of Nigeria […]
Nasir el-Rufai, governor of Kaduna, says President Muhammadu Buhari made a mistake concerning the naira redesign policy. Speaking in an interview with the BBC Hausa on Monday, el-Rufai said the policy was introduced to make the All Progressives Congress (APC) lose in the election. He said governors were against the policy because of the hardship […]
The Economic and Financial Crimes Commission (EFCC) Chairman, Abdulrasheed Bawa, had said that over N500 billion old naira notes stashed by politicians yet to return to the Central Bank of Nigeria (CBN). Abdulrasheed Bawa stated this during an interview on Channels TV’s Politics Today. The EFCC chairman added that the commission had a lot of […]
Nigeria’s president, Muhammadu Buhari, has approved the use of old ₦200 notes as legal tender until April 10, 2023. This was disclosed in a broadcast to the nation today, one week after the CBN’s February 10 deadline had elapsed and a day after the Supreme Court had adjourned a suit brought by ten state governors […]
President Muhammadu Buhari is considering extending the validity of old naira notes by 60 days, TheCable understands. This is to avoid disobeying the order of the Supreme Court of Nigeria which ruled that the old N1,000, N500 and N200 notes remain valid until it delivers judgment in the case filed by some states against the […]
The Supreme Court on Wednesday adjourned hearing in a suit filed by Kaduna, Kogi and Zamfara states against the federal government seeking a restraining order to stop the full implementation of the naira redesign policy of the Central Bank of Nigeria (CBN) until Feb. 22. (NAN) Details later…