S’Court order on cash swap still subsist, APC tells FG, CBN

S’Court order on cash swap still subsist, APC tells FG, CBN

The All Progressives Congress (APC) on Sunday advised the Federal Government and the Central Bank of Nigeria (CBN) to respect the Supreme Court order of Interim injunction on the implementation of the cash swap. This was disclosed by the National Working Committee (NWC) of the party after a meeting with Governors elected on the platform…

CBN dismisses report asking banks to collect old N500, N1000 notes

CBN dismisses report asking banks to collect old N500, N1000 notes

The Central Bank of Nigeria (CBN) has dismissed the claim that it has directed commercial banks to start collecting the old N500 and N1000 notes. A source in the apex bank earlier revealed that the CBN has directed commercial banks to start collecting the old naira notes. The mother of all Nigerian banks in a…

CBN orders commercial banks to collect old N500, N1,000 notes

CBN orders commercial banks to collect old N500, N1,000 notes

The Central Bank of Nigeria (CBN) has ordered commercial banks to collect the old naira notes — N500 and N1,000 notes from the people. The apex bank revealed that the maximum amount of money banks can collect is N500,000. The director of the CBN’s corporate communications, Osita Nwanisobi, confirmed the development to newsmen on Friday,…

Naira crisis: Jigawa govt declares N1000, N500 old naira notes legal tender

Naira crisis: Jigawa govt declares N1000, N500 old naira notes legal tender

The Jigawa State Government on Thursday vowed to enforce the Supreme Court order restraining the Federal government from banning the old naira notes as legal tender. The Informant247 reports that President Buhari had on Thursday said that old ₦500 and ₦1000 notes are no longer legal tender in the country, directing the CBN to release…

Naira crisis: Emefiele meets bank executives on old N200 note

Naira crisis: Emefiele meets bank executives on old N200 note

Following president Muhammadu Buhari’s order to allow the old N200 note to remain legal tender for 60 more, the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele has met with operators of commercial banks, instructing them to start implementation of the presidential instruction Emefiele, who was at the presidential villa on Thursday afternoon for a…

Old N500, N1000 notes can only be redeemed at CBN, no longer legal tender – Buhari

Old N500, N1000 notes can only be redeemed at CBN, no longer legal tender – Buhari

Nigerian president Muhammadu Buhari on Thursday stated that the the old N500 and N1,000 banknotes are no longer legal tender in the country. Buhari disclosed this made this during an address to Nigerians where he also apologised to Nigerians over the difficulties being faced in accessing the new naira notes. He however said that the…

Naira crisis: Buhari’s broadcast contempt of court, says SAN

Naira crisis: Buhari’s broadcast contempt of court, says SAN

The Senior Advocate of Nigeria, SAN, Ebun-Olu Adegboruwa has said that President Buhari is in contempt of the Supreme Court on the new notes in his national broadcast on Thursday. Adegboruwa said by purporting to vary the apex court’s order that all the old notes should continue to be legal tender, the President committed “executive…

Naira crisis: Buhari directs CBN to recirculate old N200 note

Naira crisis: Buhari directs CBN to recirculate old N200 note

Nigerian president Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to recirculate the old N200 note, which will remain legal tender with the newly re-designed N200, N500 and N1,000 notes until April 10, 2023. The President made this disclosure in a national broadcast to Nigerians on Thursday morning in reaction to the escalating…

Naira redesign is your worst policy, it’ll soil your image forever: Benue Gov. Ortom to Buhari

Naira redesign is your worst policy, it’ll soil your image forever: Benue Gov. Ortom to Buhari

The Governor of Benue State, Samuel Ortom, has sent message of warning to President Muhammadu Buhari over naira redesign policy put forward by the Central Bank of Nigeria, CBN. The Governor said the policy which is making Nigerians pass through hardship will tarnish his image forever. The Governor on Wednesday February 15, 2023 added that…

Protest: Old Naira notes still valid, Kwara Gov declares

Protest: Old Naira notes still valid, Kwara Gov declares

Kwara State Governor, Abdulrahman Abdulrazaq has further established the judgement of the Supreme court of Nigeria which confirms the old naira notes as the legal tender pending the time the case before it is decided. In a broadcast message on Wednesday, Abdulrahman expressed his sympathy with the people of the state on the scarcity of…

I’ll deal with banks, anyone rejecting old naira notes — Lagos Gov Sanwo-Olu vows

I’ll deal with banks, anyone rejecting old naira notes — Lagos Gov Sanwo-Olu vows

The Governor of Lagos State, Babajide Sanwo-Olu on Wednesday promised to deal with commercial banks that reject the old naira notes. The Governor vowed to prosecute any commercial bank that refuses to collect the old naira notes from the people, as he believes it’s against the position of the Supreme Court to do so. The…

Osun Gov Adeleke warns commercial banks against rejection of old naira notes

Osun Gov Adeleke warns commercial banks against rejection of old naira notes

The Governor of Osun State, Senator Ademola Adeleke has reacted to the scarcity of the new naira notes and the refusal of commercial banks to collect the old naira notes from the people of Nigeria. The Governor warned commercial banks in the state against keeping the new naira notes away from the people. Adeleke also…

We’ll shut down banks that reject old naira notes — Gov Dapo Abiodun

We’ll shut down banks that reject old naira notes — Gov Dapo Abiodun

The Governor of Ogun State, Dapo Abiodun has threatened to shut down any commercial bank that rejects old naira notes. The Informant247 understands that Supreme Court earlier today Wednesday February 15, 2023 maintained that the old naira notes still remain legal tender in the country. The Governor took to Twitter to send message of warning…

4 die, banks vandalized in Edo protest over naira notes scarcity

4 die, banks vandalized in Edo protest over naira notes scarcity

A protest in Benin and its environs has reportedly taken the lives of at least 4 protesters. The demonstrators stormed the streets of Benin and its environs in Edo State to protest the cash swap policy put forward by the Central Bank of Nigeria (CBN). Report has it that those who lost their lives were customers of…

Protesters storm Ondo, Kwara, Delta over scarcity of new naira notes, rejection of old notes

Protesters storm Ondo, Kwara, Delta over scarcity of new naira notes, rejection of old notes

Ondo town, Ondo State There was a protest in Ondo town in Ondo West local government area of Ondo State, on Wednesday, as residents stormed the streets over scarcity of new naira notes. The Informant247 understands that there’s been rejection of old naira notes by commercial banks in the country. The protesters occupied the street…

Old notes remain legal tender, says Supreme Court as it fixes Feb. 22 for hearing

Old notes remain legal tender, says Supreme Court as it fixes Feb. 22 for hearing

The Supreme Court on Wednesday said that its February 8 order barring the Federal Government and its agencies from enforcing the February 10 deadline for the use of old 200, 500 and 1000 naira notes still subsist. The court made the clarification on Wednesday following complaint by lawyer to Kaduna, Kogi and Zamfara states, Abdulhakeem…

Tell CBN to reverse naira redesign policy now: Gov. Akeredolu tells Buhari

Tell CBN to reverse naira redesign policy now: Gov. Akeredolu tells Buhari

The Governor of Ondo State, Rotimi Akeredolu has told President Muhammadu Buhari to order the Governor of Central Bank of Nigeria (CBN) Godwin Emefiele, to discard the policy on the new naira notes. The Governor said the apex bank should allow the use of both the old and new notes in circulation. Akeredolu said there’s…

Naira swap: POS agents charging above N200 will be arrested, jailed – Emefiele

Naira swap: POS agents charging above N200 will be arrested, jailed – Emefiele

 The Governor, Central Bank of Nigeria (CBN), Godwin Emefiele has warned that the Point-of-Sale agents charging above N200 for cash swaps will be arrested and jailed. Emefiele also stated that there was no need to shift the February 10, 2023 deadline. The Informant247 had earlier reported that the Supreme Court issued an order of interim…

Naira crisis: Again, Emefiele meets Buhari in Abuja

Naira crisis: Again, Emefiele meets Buhari in Abuja

Nigerian president Muhammadu Buhari on Monday met with the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele at the State house in Abuja. Emefiele arrived the presidential villa at about 1:00pm, shortly after President returned from the Police Force Headquarters, where he unveiled patrol vehicles to be deployed for the forthcoming general elections. This meeting…

Again, CBN reacts to scarcity of new naira notes

Again, CBN reacts to scarcity of new naira notes

The Central Bank of Nigeria (CBN) has reacted to the scarcity of new Nigerian currency facing the people. The apex bank blamed hoarding for the problem of scarcity. The CBN director, Consumer Protection, Mrs Rashidat Mongunu, made this revelation in Offa, Kwara State, while visiting some financial institutions to monitor the situation of things. She…

Naira swap: Tinubu hails Govs over Supreme Court ruling

Naira swap: Tinubu hails Govs over Supreme Court ruling

Asiwaju Bola Ahmed Tinubu, the presidential candidate of the All Progressives Congress (APC) has hailed Governors of the 36 States for standing on the side of the people over the Central Bank of Nigeria (CBN) cash swap, which has subjected the masses to suffering. He specially thanked the three All Progressives Congress(APC) Governors for taking…

IMF asks CBN to extend deadline for naira swap

IMF asks CBN to extend deadline for naira swap

The International Monetary Fund (IMF) on Wednesday called on Central Bank of Nigeria (CBN) to extend the February 10 deadline for cash swap. The call was made after the Supreme Court restrained the Federal Government and Central Bank of Nigeria(CBN) from enforcing the deadline. In a statement released in Abuja by Laraba Bonet, IMF hinged…

Supreme Court stops CBN, FG from enforcing old naira deadline

Supreme Court stops CBN, FG from enforcing old naira deadline

The Supreme Court on Wednesday issued an interim order to halt the move by the Federal Government and the Central Bank of Nigeria (CBN) from enforcing the February 10 deadline for the phasing out of the old naira notes. A seven-member panel led by Justice John Okoro halted the federal government plan in a ruling…

Naira crisis: CBN will not be used to frustrate 2023 general elections – Emefiele

Naira crisis: CBN will not be used to frustrate 2023 general elections – Emefiele

Godwin Emefiele, the Governor, Central Bank of Nigeria (CBN) has said that the apex bank will not allow itself to be used to frustrate the success of the 2023 general elections. Emefiele stated this when the INEC’s chairman, Prof. Mahmood Yakubu led 11 National Commissioner on a visit to the Bank, saying the CBN will…

Naira swap: opposition parties against deadline extension – FG

Naira swap: opposition parties against deadline extension – FG

Federal Government, on Tuesday, slammed opposition political parties that went to court to restrain the President Muhammadu Buhari, from stopping, extending or interfering with the naira swap deadline date. It also accused the parties of politicising the situation, adding that they were not mindful of the plight of Nigerians due to the cash crunch. The…

I would have issued warrant for Emefiele’s arrest over the new currency policy – Gbajabiamila 

I would have issued warrant for Emefiele’s arrest over the new currency policy – Gbajabiamila 

Rep. Femi Gbajabiamila, the Speaker, House of Representatives, has said that he would have signed a warrant for the arrest of the Governor, Central Bank of Nigeria, Godwin Emefiele had it been he failed to honoured the invitation of House regarding the current scarcity of the new naira notes. Gbajabiamila, who spoke Sunday at a…

Northern group urges CBN to extend deadline for naira swap

Northern group urges CBN to extend deadline for naira swap

The North Central Youth Stakeholders Forum (NCYSF), has urged the Central Bank of Nigeria (CBN) to extend the deadline for the old naira notes. In a statement issued on Saturday by its Chairman, Mohammed A. Mohammed, asked Nigerians to remain vigilant to the direction the country is heading. It also urged them to prepare to…