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Tag Archives: Central Bank of Nigeria

Naira Scarcity: POS Operators Device New Strategy

AS both the new and the old naira notes remain scarce around the country, operators of Point of Sale, popularly known as POS have become the new lords. Newsextra24 reports that with the situation, many people queue endlessly before bank Automated Teller Machines (ATMs), and even fight, even with no …

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CBN List Enormous Benefits Of New Naira Notes

THE Central Bank of Nigeria has taken the ongoing sensitisation on new naira notes to Shasha Market, in  Akure North Local Government Area of Ondo State as it advised the traders to take their money to the commercial banks. The apex bank reiterated that there was no limit to how …

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CBN Bans Over-the-counter Withdrawal Of New Notes

THE Central Bank of Nigeria has ordered Deposit Money Banks not to pay customers making over-the-counter withdrawals of new naira notes again. Instead, the apex bank directed the banks to load their Automated Teller Machines with only new notes to ensure that the currency circulates across the nation ahead of …

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CBN Spends N800bn On Currency Production, Destruction

THE Deputy Governor, Financial System Stability, Central Bank of Nigeria, Aisha Ahmad, has said the amount spent on maintaining the naira has increased by N10bn annually. Ahmad, who revealed this on Friday  during  her appearance before the House of Representatives to defend CBN’s new cash withdrawal limits policy,  attributed over …

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