The maximum amount of over-the-counter (OTC) cash withdrawal for third-party cheques of N150,000.00 presently operational in Lagos has been extended nationwide effective June 1, 2013 for individual and corporate accounts. Further to this, the CBN cashless
The Bankers’ Committee Sunday said the decision earlier reached to suspend all charges accruing from the use of Automated Teller Machines (ATMs) of other banks would be implemented from Monday, December 17.
ABUJA – There are strong indications that President Goodluck Jonathan may eventually yield to popular demand by reneging on an earlier endorsement to the proposed Naira restructuring by the Central Bank of Nigeria (CBN).
THE two chambers of the National Assembly began fresh legislative sessions yesterday and kept on the front burner some issue, which have not ceased raging in the polity. These were the full implementation of the 2012 budget, the status of the Director Gen
THE absence of a consensus on the Federal Government’s proposal to restructure the naira and with patent thorny financial issues on the policy signpost the lack of preparedness of Nigerians to embrace it. There is need for a rethink, in order to avoid unp
To lessen the widespread apathy towards the use of coins, the Central Bank of Nigeria (CBN) will facilitate the introduction of coins into the currencies dispensable by Automated Teller Machines (ATMs).
AFRICAN central banks may soon consider a national mobile payment platform as part of measures to aid international transactions, even as stakeholders in the Nigerian cash-less programme have been tasked on the need to defragment the payment system, to ai
Sanusi Lamido Sanusi, the central bank governor, is a man who elicits a lot of passion, both personally and from the public. A lot of his policy pronouncements, even where they might be well intentioned, tend to be misconstrued and often rub people up the
The Central bank of Nigeria (CBN) recently announced a Currency Restructuring Programme tagged Project CURE Find below Frequently Asked Questions (FAQs) that address the issues being raised regarding the appropriateness of the proposed exercise.
Former President Olusegun Obasanjo on Thursday said the introduction of the N5,000 note would kill production and affect small businesses negatively. Obasanjo, who spoke at a roundtable advocacy forum organised by the Institute of Directors, Nigeria, in L
The Central bank has noted with great surprise, several malicious misrepresentations regarding the recently announced programme on currency review and restructuring, tagged 'PROJECT CURE'. In order to correct these dangerous misrepresentations, the CBN Wi
The trademark patent right of the naira notes in circulation is owned by non-Nigerians, the Central Bank of Nigeria (CBN) has revealed. The apex bank yesterday cited this as one of the reasons it wants to redesign the naira notes. According to the directo
The Central Bank of Nigeria has said that series of studies which it carried out has proven that the ongoing Currency Review Exercise will not lead inflation in the country. The Banks Director of Corporate Communications, Mr Ugochukwu Okoroafor in an int
Dr. Ayo Teriba is chief executive officer at Economic Associates. In this interview with Lanre Oyetade on the proposed change in the countrys currency structure by the central bank, he states that there is much to be desired in the measure but more needs
Federal Lawmakers were right on target when they rose on Monday against the latest hare-brained attempt to restructure the national currency. Having got away several times in his three years on the job with controversially tinkering with policies, Lamido
The Nigerian Senate today asked that the Central Bank of Nigeria (CBN) halts its planned new currency policy. It equally directed the CBN to stop plans to introduce a single N5000 note with immediate effect; warning that no such policy that has far reachi
The phrase and context of this columns title belongs to Remi Babalola, former Minister of State for Finance who was reported to have wondered in bewilderment, whether there was a holistic, coherent and well thought-out strategy behind Lamido Sanusis unf
….As you all know, one of the core mandates of the CBN, like monetary authorities across the world, is the issuance and management of the legal tender currency. This implies that the CBN is responsible for the entire process of currency production and it
Respite is underway for the banking public as the Central Bank of Nigeria (CBN) will soon review upwards the current N500,000 and N5 million transaction withdrawal limits for individuals and corporate bodies respectively.