Central Bank of Nigeria (CBN)

The Central Bank of Nigeria has directed all commercial banks to open for operation on Saturdays and Sundays as part of a coordinated effort to ease the circulation of banknotes of various denominations. It also confirmed the evacuation of banknotes from its vaults to commercial banks across the country. This was disclosed in a statement […]

Some residents of Ilorin as well as some filling stations in the the Kwara State capital, are still skeptical about enforcement of the supreme court’s judgment on the old naira notes even as the Central Bank of Nigeria (CBN) has, in a circular, declared that the old N200, N500 and N1000 notes remain legal tender […]

Ahead of Saturday’s governorship and State Houses of Assembly elections, the Bauchi office of the Independent National Electoral Commission (INEC) has commenced the distribution of sensitive materials across the 20 local government areas in the state. Speaking during the distribution of the election materials at the Central Bank of Nigeria (CBN) branch office in Bauchi, […]

Civil Society Organisations (CSOs) in Nigeria have told President Muhammadu Buhari that he cannot exonerate himself from the current naira crisis and the suffering it has brought on the masses.   According to the CSOs, even when the minister of finance, Zainab Ahmed, said she was not aware of the policy, the Central Bank of […]

Eight days after the Supreme Court delivered its final ruling in the lawsuit on the old banknotes and extended their validity to December 31, 2023, the scarcity of the currency still persists across the states of the federation even as many Nigerians have refused to accept the old notes following the failure of the Central […]

Ten states are set for a fresh legal battle with the Federal Government and the Central Bank of Nigeria (CBN) following the non-compliance of the Federal Government and the apex bank with the March 3rd judgment of the Supreme Court on the extension of the validity of the old naira notes. The non-implementation of the […]

A renowned constitutional lawyer, Professor Auwalu Yadudu and a human rights activist, Femi Falana (SAN), have described the refusal by the Central Bank of Nigeria (CBN) to comply with the Supreme Court judgement on the old naira notes as contemptuous and the highest disregard for the rule of law. Recall that last Friday, in a […]

More Mixed reactions have continued to trail the supreme Court Judgment on the redesign naira note by the Federal Government Policy. It is recalled that Nigeria’s Supreme Court on  Friday  ruled that old banknotes remain legal tender until the end of the year, bringing relief to millions affected by a chaotic redesign of the naira […]

Governor Nasir El-Rufai of Kaduna state said no incoming President or Governor of Central Bank of Nigeria (CBN) can upturn the current ruling of the Supreme Court on the old naira notes. El-Rufai stated this while speaking with news men after the judgment of the apex court on the old naira note today. Recall that […]

President Muhammadu Buhari has apologized to Nigerians over the naira redesign policy. According to him, it wasn’t introduced to cause hardship, but to boost the economy. In October 2022, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, announced the plan to redesign the N200, N500, and N1, 000 notes. The apex bank […]

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