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Residents Laments As Banks Reject Old Naira Notes In Ilorin
Commercial banks in Ilorin, the Kwara State capital, are rejecting old naira notes from customers despite an order of the Supreme Court.Recall that the Supreme Court temporarily restrained the CBN from withdrawing and making the old currency notes of 200,500 and 1000 naira denominations obsolete till Wednesday, February 15, 2023, when the substant -
More Banks Close Branches For Lack Of Cash To Pay Customers
In what will come across as a really startling development, it has been revealed that relief is far for cash-strapped Nigerians as more banks shut their branches yesterday. The banks hinged their actions on lack of cash and safety, it was learnt. Banks like Zenith, Sterling and Fidelity have had some of their branches in Lagos, Ibadan, Abeokuta an -
New Naira Scarcity: CBN Issues Fresh Promise To Commercial Banks
The Central Bank of Nigeria has said it is working hard to make sure there is no new naira scarcity anymore. According to the CBN, it will supply commercial banks with plenty of funds to address the new Naira note scarcity in Kogi State. Kogi CBN Branch Controller, Ahmed Sule, made the vow on Thursday while speaking with NAN in his office in Lokoj -
More Woes For Ogun Residents As Banks Shut Down After Violent Protest
Commercial banks in Abeokuta, Ogun State have refused to open for business to avoid being attacked in the wake of violent protests by some youths over the scarcity of the new naira notes and fuel.Protesters on Tuesday went on a rampage across the city attacking banks and their Automated Teller Machines, ATM.One person was shot during an attempt by -
Yobe Banks Have Diverted N4.3bn New Notes - MFB Official Cries Out
The Managing Director, Yobe Microfinance Bank, Sheriff Almuhajir has raised an alarm about alleged illegal activity of banks given the new naira notes totaling N4.3 billion. He alleged on Tuesday that the sum of N4.3 billion disbursed by the Central Bank of Nigeria to banks in the state had been diverted. Punch reported that Almuhajir made this al -
Tension As Ogun Youths Attack Banks As Protests Escalate (Photos)
There was palpable tension as aggrieved youths staged a violent protest in Abeokuta, the Ogun state capital. The protest reportedly started at Asero, Abeokuta, on Tuesday, by some customers of GTBank over their inability to get new naira notes from the bank. The protesters who made bonfires on the roads blocked the road that leads to Adatan -
Naira Scarcity: Banks Serves Customers Waiting For Cash Free Drinks (VIDEO)
Customers operating an account with a popular bank have been pacified with soft drinks amid the worsening naira scarcity situation. Following the recent violence that have characterised disgruntled customers visitation of banks, Fidelity decided to serve its customers drinks free of charge likely to calm them down. A video making the rounds online -
Abuja Residents Accuse Banks Officials Of Hoarding, Selling Cash
The stakeholders urged the Central Bank of Nigeria (CBN) to impose heavy sections on Deposit Money Banks (DMBs) found complicit in fuelling the Naira scarcity, as well as other According to the stakeholders, in spite of the CBN’s threat to sanction banks found to be hoarding or involved in shady deals with the naira, not one bank has been sancti -
Gov. Zulum of Borno State Threatens to Revoke Lands of Banks Hoarding New Naira Notes
The governor of Borno state, Babagana Zulum, has threatened to revoke the land of any building they occupy if they fail to dispense new naira notes via their Automated Teller Machines (ATMs). Governor Zulum gave the threat on Friday afternoon Febriary 3, in Maiduguri after visiting branches of banks to assess problems being faced by residents in -
Ibadan Residents Protest Over Inability To Withdraw New Naira Notes From Banks (Video)
Residents of Ibadan, the Oyo state capital stormed the streets to protest the scarcity and inability to access the new naira notes on Friday, January 3. Dailypost gathered that bank customers in Ibadan have been finding it difficult to withdraw money. Recall that the Central Bank of Nigeria, CBN, had a few weeks ago introduced the newly redesigned -
Buhari Worried Over Long Queues In Banks – Finance Minister, Ahmed
Minister of Finance, Budget and National Planning, Zainab Ahmed has said that President, Muhammadu Buhari is unhappy about the suffering of Nigerians in accessing the redesigned naira notes She noted that it was a temporary stress which will fizzle out in no time. Ahmed who was featured at the 65th State House briefings coordinated by the Presiden -
BREAKING: CBN Directs Banks To Start Paying New Naira Notes Over The Counter
The Central Bank of Nigeria (CBN) has issued a new directive to commercial banks. The CBN directed the commercial banks to start paying the redesigned naira notes to customers over the counter. In a statement on Thursday, Godwin Emefiele, CBN governor, said the new directive was to alleviate the challenges that Nigerians are experiencing with gett -
JUST IN: Banks Will Accept Old Naira Notes After Deadline, Says Emefiele
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has made a new announcement about the old naira notes. He says banks will continue to accept old naira notes after the stipulated deadline. Emefiele spoke on Tuesday when he appeared at an interactive session with the house of representatives ad hoc committee on the currency redes -
CBN Directs Banks To Pay Customers With Only N100, N50, N20, N10, N5 Over The Counter
Commercial banks will now pay customers over-the-counter in N100, N50, N20, N10, and N5 notes, regardless of the amount withdrawn.The Banker’s Committee issued the directive to all commercial banks in the country, as well as an announcement that the payment of old N1,000, N500, and N200 notes across the counter should be discontinued.With this d -
Akwa Ibom Residents Raise Alarm Over Banks’ Rejection Of Old Notes
Residents of Akwa Ibom State, have raised the alarm over rejection of the old Naira notes by some commercials banks, almost one week before the January 31, 2023 deadline set by the Central Bank of Nigeria, CBN, to phase out the notes.Some Banks’ customers raised the alarm on Thursday when officials of the CBN led by the Branch Controller Uyo, Mr -
CBN Warns Commercial Banks Against Dispensing Old Naira Note
The Central Bank of Nigeria (CBN) has issued a warning to commercial banks that have ATMs stocked with old notes that are set to lose their legal tender status by January 31st.During a sensitization program in Lokoja, the Kogi State capital, the Deputy Director of Currency Operations, Dr. Rekiyat Yusuf, stated that any ATM found to still have old -
BREAKING: FG Warns Commercial Banks Against Loading Old Naira Note Into ATMs
The Central Bank of Nigeria (CBN) urged commercial banks in the country to comply with the directive of loading the newly redesigned naira notes in their Automated Teller Machines (ATMs).CBN Director, Currency Operations, Mr Ahmed Umar, stated this in Abuja on Monday, Jan. 9.Umar, who spoke at the Training Session for State Directors, National Ori -
ALTON Threatens To Withdraw USSD Services Over Accumulated N80bn Debt Owed By Banks
Following the accumulated debt owed by banks which rose to N80bn in November, the Association of Licensed Telecommunications Operators of Nigeria (ALTON) has threatened to stop the use of unstructured supplementary service data (USSD)Speaking in an interview with ThisDay, Gbenga Adebayo, chairman of ATCON, said the banks' refusal to pay the d -
Woman Seen Hawking New Naira Notes At Party Despite Shortage At Banks (Photos)
An unidentified money hawker was reportedly seen at a party venue with enormous wads of the new naira notes, charging N200 for N1,000.This is despite protests that some bank branches had already used up the limited supply of the newly redesigned naira notes supplied to them by their head offices as early as Thursday noon.It was earlier reported th -
Banks Told To Write Down Serial Number Of New Naira Notes During Withdrawal
Banks have been ordered to take down serial numbers of new naira notes whenever it is withdrawn. Nairametrics reported that the order came from the central bank. Operations staff of some of Nigeria’s commercial banks informed Nairametrics that they were instructed to write down all the serial numbers of the new naira notes whenever customers mak -
Banks Reconfigure ATMs As Newly Redesigned Naira Notes Enters Circulation Today
The newly redesigned naira notes will go into circulation on Thursday (today) with Deposit Money Banks releasing the bills to their customers via over-the-counter payments.This came about three weeks after the President, Major General Muhammadu Buhari (retd), unveiled the new bills at a weekly Federal Executive Council meeting in Aso Rock Villa.Th -
How Two Nigerian Banks Influenced The Release Of Veteran Singer, D'Banj From ICPC Custody
Two banks reportedly played a huge role in the release of veteran Nigerian singer, D’Banj from the custody of the Independent Corrupt Practices and other Related Offences Commission (ICPC).The veteran artiste recently honored the invitation of the ICPC over allegations that he was involved in the fraudulent diversion of monies meant for the bene -
Newly Redesigned Naira Now in Banks, Ready For Issuance – CBN Gov. Emefiele
The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says the newly redesigned Naira notes are already in banks and ready for issuance.According to a statement in CBN’s official twitter handle, Emefiele said so in Daura while on a visit to brief President Muhanmadu Buhari on the Naira redesign and the recently reintroduced cash -
Over ₦1 Trillion Old Notes Has Been Received By CBN, Banks - Emefiele
CBN Governor Godwin Emefiele has disclosed the amount of old notes received through the banking system to be swapped for new notes which become effective Jan 31, 2023. According to him, banks have received roughly N1trillion, DailyTrust reported. The Governor of the Central Bank made this revelation in Daura, Katsina State, while briefing journali -
CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit
As part of efforts to ensure full compliance with the Naira redesign deadline, the Central Bank of Nigeria (CBN) has directed banks to accept cash deposits beyond cashless policy threshold.Osita Nwanisobi, director, corporate communications department of the CBN disclosed this on Thursday on the occasion of the CBN’s special day at the ongoing 2 -
New Naira Notes: Banks Get N52b Cash Deposits In Two Weeks
About N52 billion cash has been deposited in Nigerian banks barely two weeks after the announcement of plans by the Central Bank of Nigeria (CBN) to redesign some naira notes. There were indications that the deposit sum may increase in the next few days because it is suspected that about N3 trillion cash was in circulation at the time the apex ban -
Nigerian Man Declared Wanted After Defrauding US Banks By Presenting Himself As A Yoruba Diety
The United States has declared a Nigerian man, Musiliu Amusa wanted. Peoples Gazette reported that the man who resides in the United States of America allegedly stole thousands of dollars from many American banks using false identities. This was stated in an indictment record provided by the Grand Jury of the District of Maryland and obtained by P -
Telecom Operators Threaten To Shutdown Banks’ USSD Services Over N80bn Debt
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) might disconnect banks across the country from accessing the Unstructured Supplementary Service Data (USSD) over rising debt. Members of ALTON include MTN Nigeria, Airtel, Glo and 9Mobile, and other telecoms operators. Some banks and the Telecom operators disagreed last ye -
Nigerian Artist, Reekado Banks Loses Mom
Ayoleyi Hanniel Solomon, professionally known as Reekado Banks who is an award-winning Nigerian international singer, songwriter, and performer has just lost his mother. The ‘Ozumba Mbadiwe’ crooner made the sad news known via his Instagram page where he shared details of her passing. “It is with Heavy heart that we announce the -
"How We Monitor People Who Withdraw Money From Banks, Rob Them" – Suspect, Isyaku Babangida
A suspected criminal paraded by the police in Zamfara State has narrated how he robs people after they withdraw cash from banks.The police spokesperson in Zamfara, Muhammad Shehu, claimed the suspect, Umar Usman, 39, in a confessional statement, said he is a member of a syndicate that specialises in monitoring customers who withdraw money in cash
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