CBN’s credit card takes off
A Credit card designed by the Central Bank of Nigeria (CBN) for domestic use has been scheduled for deployment. The card is expected to compete with other debit cards,…
NSPM Sets The Records Straight On The Quality Of Redesigned Banknotes
The Nigerian security printing and minting (NSPM) says its attention has been drawn to various clips, skits, concerns, and comments on various platforms regarding the quality of the redesigned banknotes…
Naira redesign: Senate seeks deadline extension to June
The Senate has urged the Central Bank of Nigeria to urgently extend the withdrawal date of old currency notes from January 31 to June 30, 2023. The Senate resolution was…
Senate passes N819.5bn supplementary budget
The Senate, on Wednesday, approved the request of the President, Muhammadu Buhari request for an N819.54 billion supplementary budget meant to fix the infrastructure destroyed by floods across the country.…
CBN increases weekly cash withdrawal limit after public outburst
The Central Bank of Nigeria (CBN) has increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500,000 and N5 million, respectively. The directive is…
CBN reduces cash withdrawals to N20k per day at POS, N100k per week from banks
The Central Bank of Nigeria (CBN) has limited weekly cash withdrawals over the counter to N100,000 for individuals and N500,000 for organisations regardless of their size. This is according…
Naira redesign: CBN directs banks to open Saturdays
The Central Bank of Nigeria has instructed commercial banks in the country to work on Saturdays till January 31, 2023, to enable customers return existing naira notes. The CBN had…
CBN eyes stronger digital economy, eNaira grows 190%
The Central Bank of Nigeria is targeting a stronger digital economy to support the growth of the financial systems. This is even as the digital currency, eNaira, records 190.1 per…
World Bank links naira crash to rising food, energy prices
The World Bank Group has hinted on why food and energy crises persisted in Nigeria and other emerging economies in recent months. In its latest commodity markets outlook released at…
CBN To Redesign N200, N500 And N1,000 Notes
The Central Bank of Nigeria (CBN) on Wednesday said it will redesign the N200, N500, and N1,000 notes. CBN Governor, Godwin Emefiele, disclosed this during a special press briefing in…