CBN Directs Banks To Obey Supreme Court Order On N200, N500, N1000 Notes
March 13, (Hobnob News ) – The Central Bank of Nigeria (CBN), on Monday night, directed deposit money banks in the country to comply with the judgement of the Supreme Court extending the validity of the old N200, N500 and N1000 banknotes. According to…
Grain Traders Reject Electronic Payment, Insist On Cash
GRAIN traders in suburban markets in the Federal Capital Territory, FCT, are rejecting electronic transactions from customers despite the cashless policy of the Central Bank of Nigeria (CBN). Traders in Nyanya, Karu, Mararaba and Masaka markets on…
Sheikh Gumi loses mother
Mother to a controversial Islamic cleric, Sheikh Ahmad Gumi, is dead. Gumi, who announced the death of his mother on his Facebook handle, said her death occurred on Sunday evening at about 5.30 pm. It was learned that his mother died today around 5.30 pm…
Naira Redesign: Banks’ Cash Withdrawal Limit Is Illegal – Supreme Court
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…
Banks’ assets now above N73tn – CBN
Total assets of the banking industry grew by N14.36tn or 24.24 percent from N59.24tn at the end of December 2021 to N73.59tn in the corresponding period of 2022. The Central Bank of Nigeria disclosed this in the personal statement made by the Deputy…
Fuel hits N300/litre as marketers stop loading
Oil marketers, on Tuesday, said many depots had stopped loading Premium Motor Spirit, popularly called petrol, due to the apprehension caused by the collation of results of the general elections across the country. It was also gathered that while filling…
Traders count losses in Maiduguri main market fire
Tragedy struck in Maiduguri on Sunday when fire razed large sections of the popular Monday Market, the largest market in Borno State. The cause of the fire was not immediately known, but eyewitnesses told PUNCH Metro that it started between 2.30am and…
EFCC storms Tinubu’s polling unit for inspection
The Economic and Financial Crimes Commission stormed the polling unit of Bola Ahmed Tinubu in the morning of the presidential and National Assembly Elections. The team who arrived Tinubu’s unit at PU 085, Ward 3, Sunday Adigun, Alausa, Ikeja, Lagos…
New CBN Guidelines Retire Top Bank Executives
New guidelines issued by the Central Bank of Nigeria (CBN) on the tenure of Executive Management and Non-Executive Directors of banks and financial institutions have sent some top bank executives on immediate retirement. The guidelines, contained in a…
CBN proposes eNaira for $800m cash transfer scheme
In an effort to drive a cashless economy, the Central Bank of Nigeria has suggested the use of eNaira for cash transfers during the National Social Safety Net Programme Scale Up. This was according to the National FinTech Strategy document obtained from…