The Central Bank of Nigeria (CBN) says the Bank Verification Number (BVN) issued in Nigeria remains for life and has no expiry date, as reported by a national newspaper. Its Acting-Director, Corporate Communications, Alhaji Isa Abdulmumin, said this in a…
Lagos residents share ordeal after accepting old notes from banks
Some Lagos residents have expressed regrets for collecting the old N500 and N1,000 notes from commercial banks, after the Supreme Court judgement validating it as legal tender till December 31. They told the News Agency of Nigeria (NAN) in separate…
Improve infrastructure to achieve cashless policy, financial inclusion, economist advises CBN
An Economist, Dr Tope Fasua, has urged the Central Bank of Nigeria (CBN) to ensure optimally functional internet capacities for the cashless policy be effective. Fasua said this on Sunday in Abuja in interview with the News Agency of Nigeria…
Financial experts laud Supreme Court’s judgement on naira notes
Financial and economic experts have lauded the Friday’s judgement of the Supreme Court invalidating the naira redesign policy of the Central Bank of Nigeria (CBN). The News Agency of Nigeria (NAN) in Ibadan reports that the apex court had invalidated…
CSOs urge CBN to publish amount of redesigned naira disbursed to banks
A coalition of Civil Society Organisations (CSOs) has urged the Central Bank of Nigeria (CBN) to publish details of the amount of the redesigned naira notes disbursed to commercial banks. The coalition, comprising of no fewer than 38 CSOs included;…
Despite the current hardship, let’s push forward with the elections — Ehi Braimah
It is gratifying to note that the Independent National Electoral Commission (INEC) has assured Nigerians that the general elections will go ahead as scheduled despite the cash crunch and nationwide protests. Initially, Professor Mahmood Yakubu, INEC Chairman, expressed doubts due…
Text of President Buhari’s speech on currency swap, state of the nation
NATIONAL BROADCAST BY HIS EXCELLENCY MUHAMMADU BUHARI, PRESIDENT, FEDERAL REPUBLIC OF NIGERIA ON THE CHALLENGES OF THE CURRENCY SWAP AND STATE OF THE NATION, ON 16th FEBRUARY, 2023 My Dear Compatriots, I have found it necessary to address you today,…
Buhari approves reintroduction of N200 note as legal tender, apologies to Nigerians
President Muhammadu Buhari has approved the reintroduction of old N200 note as legal tender alongside the new N200 note until April 10. The president, who gave the approval in a nationwide broadcast on Thursday in Abuja, said the approval was…
Currency Swap: Buhari orders arrest, prosecution of saboteurs
President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to intensify collaboration with anti-corruption agencies, in checking the activities of those bent on frustrating the smooth implementation of the currency re-design policy. The president gave the directive while…
How KongaPay saved my life amid Naira scarcity – Trader
A petty trader, Mrs. Bolade Inuwa, has narrated how she was spared huge embarrassments and inconveniencies in the wake of the recent policy pronouncement on the redesign of select denominations of the national currency – the Naira, specifically referencing how…
