LAGOS DECEMBER 9TH (NEWSRANGERS)-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…
LAGOS DECEMBER 8TH (NEWSRANGERS)-Experts on Wednesday raised concerns over a new policy announced by the Central Bank of Nigeria that heavily limits withdrawals of money in a push for a cashless economy. The monetary policy, which applies to ATMs, banks and cash back from purchases, follows the launch of the West African nation’s newly designed…
LAGOS NOVEMBER 5TH (NEWSRANGERS)-Central Bank of Nigeria (CBN) has directed that individuals can only deposit N5million for new accounts and N50million for old accounts in one month. CBN Director of Currency, Ahmed B. Umar,who issued the directive said that individuals will not be allowed to deposit more than N5 million if the transaction involves a…
LAGOS NOVEMBER 1ST (NEWSRANGERS)-Operatives of the Economic and Financial Crimes Commission raided the offices of black market currency dealers in Abuja on Tuesday in a bid to halt the rapid fall of the naira. Naira plunged rapidly between Monday and Tuesday to more than 840 in Abuja a week after the the Central Bank of…