LAGOS FEBRUARY 17TH (NEWSRANGERS)-The Central Bank of Nigeria (CBN) has denied reports in some of the media that it has authorize banks to accept N500 and N1,000 old notes as deposit. Recall that media houses have been spreading the information that CBN has directed Banks to collect old N500, and N1,000 notes from customers with…
LAGOS FEBRUARY 15TH (NEWSRANGERS)-A combined team of officials of the Central Bank of Nigeria, CBN, the Independence Corrupt Practices and other related offenses Commission, ICPC, and the Economic and Financial Crimes Commission, EFCC, have arrested four Point Of Sale, POS, operators in Makurdi for extorting their customers. The team, led by the CBN Director of…
LAGOS FEBRUARY 12TH (NEWSRANGERS)-The Central Bank of Nigeria has debunked claims about the incapacity of the Nigerian Security Printing and Minting PLC. The apex bank also denied claims that it plans to shut down commercial banks in a geo-political zone. This was disclosed in a statement signed on Friday by CBN’s Director of Corporate Communications,…
By Muiz Banire LAGOS JANUARY 27TH (NEWSRANGERS)-I have always contended that Nigeria as a country is a unique one in all ramifications. Is it the natural endowments of the country you want to consider? The strategic location of the country? The climate change challenges of being afflicted by all the three major consequences of desertification,…
LAGOS JANUARY 7TH (NEWSRANGERS)-The Federal High Court sitting in Abuja has ordered the seizure of funds and assets that the Economic and Financial Crimes Commission, EFCC, traced to a banker, Mr Aleshe Ayodeji, who allegedly deposited fake currencies worth over N20million, with the Central Bank of Nigeria, CBN. EFCC alleged that Ayodeji, who was in…
LAGOS DECEMBER 27TH (NEWSRANGERS)-Once again, Mr Godwin Ifeanyichukwu Emefiele, governor of the Central Bank of Nigeria, is in the news. Central bankers the world over have dominated newspaper headlines as they have sought to tighten monetary conditions to stave off rising prices in their respective economies. As domestic inflation rises relentlessly, Mr Emefiele, a late…
LAGOS DECEMBER 23RD (NEWSRANGERS)-Nigeria’s currency is poised for its eighth straight day of losses and on track for its longest losing streak since 2020, less than two months before a presidential election. The naira traded at 453.16 to the dollar as of 4:30 p.m. local time on Thursday in the spot market. The currency has…
LAGOS DECEMBER 22ND (NEWSRANERS)-The Central Bank of Nigeria (CBN) on Wednesday bowed to pressure from many Nigerians and lawmakers as it announced an upward review of its cash withdrawal limits directive. Individuals can now withdraw N500,000 cash weekly and corporate entities can now withdraw up to N5 million cash across all channels including Automated Teller…
