CBN Archives - Page 5 of 5

Dec

20

2022

Timi Frank tells DSS to stop illegal plot to arrest Emefiele

Economy, Opinion, Politics2023, CBN, DSS/EFCC, Emefiele, Nigeria, Opinion, Politics, Timi Frank

Press Release - 20/12/22 Former Deputy National Publicity Secretary of the All Progressives Congress (APC), Comrade Timi Frank, on Tuesday, urged the Department of State Services (DSS), to urgently halt their alleged grand plot to harass, humiliate, arrest and illegally force the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, out of office. Frank who was reacting to allegations to that effect made by the Coalition of United Political Parties (CUPP) in Abuja on Monday, also called on President Muhammadu Buhari to call the DSS and other conniving officials to order in a bid not to intensify the…

Dec

09

2022

By Amos Oge Kalu

CBN may ‘tweak’ new cash withdrawal limits, says Emefiele

Business, Economy, NewsBusiness, CBN, Economy, Emefiele, Metro, Nigeria

ABUJA-Central Bank of Nigeria, CBN, Governor, Mr. Godwin Emefiele, yesterday, said that the apex bank would consider tweaking the new weekly cash withdrawal limits of N100,000 and N500,000 for individuals and corporate bank customers. Emefiele, who addressed State House correspondents after meeting behind closed doors with President Muhammadu Buhari in Daura, Katsina State, assured that the apex bank would not be rigid on the policy as it was not meant to hurt anybody but to strengthen the nation’s economy. Emefiele also hinted that over N1 trillion worth of old notes had been deposited by bank customers, adding that the CBN has…

Dec

09

2022

By Amos Oge Kalu

Reps summon Emefiele, order CBN to suspend cash withdrawal policy

Economy, NewsCBN, Economy, Emefiele, eNaira, Next Level, Nigeria, Politics, Representatives

…summon Emefiele for an explanation Thursday next week …angry over the new cashless policy …may prevail on the apex bank to reverse the decision Angry with the N100,000 weekly cash withdrawal limits recently set by the Central Bank of Nigeria (CBN) and its attendant economic and social challenges, the House of Representatives at Thursday plenary asked the Governor, Mr. Godwin Emefiele to suspend implementation of the policy. Emefiele was asked to cause an appearance Thursday next week to explain to the House the impact and significance of the new policy. The suspension is to last pending the outcome of the…

Nov

12

2022

By Amos Oge Kalu

Bureau De Change operators frustrating naira growth – Expert

Business, EconomyBusiness, CBN, Economy, Money, Nigeria

A consultant, Dr Boniface Chizea, said the activity of Bureau De Change operators is frustrating the growth of the Naira against foreign currencies. Naira recorded an appreciable rise against the dollar in the parallel market, standing at 730/$ from 900/$ a week ago. Speaking in a chat on Friday while reacting to the latest Naira rise against the Dollar, Chizea said the operation of some BDC is a significant blow to the country’s local currency. He disclosed that the Nation’s economy benefits nothing from the activities of BDC operators. He said the noticeable growth in the Naira after the clampdown…

Nov

01

2022

By Kalu Odinakachi

Islamic group tells CBN to put Arabic on all denominations of redesigned Naira

Economy, News, PoliticsCBN, Economy, MURIC, Nigeria, Opinion, Politics, Religion

Muslim Rights Concern (MURIC) has supported the move by the Central Bank of Nigeria (CBN) to redesign the naira. However, the Islamic human rights organization gave the condition that Arabic Ajami must be inscribed on all naira denominations. MURIC stated this in a statement issued on Tuesday by the group’s director, Professor Ishaq Akintola. The statement reads in part: “The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, announced on October 26 2022, the plan by the CBN to redesign the naira. “MURIC hereby expresses its support for the project with the proviso that all the denominations must…