BUSINESS

Naira swap: Confusion over the state of N500 and N1,000

Daily Dispatch February 17, 2023

There was confusion on Friday over the state of N500 and N1,000 notes between the Central Bank of Nigeria and Deposit Money Banks. Shortly after information filtered in that the CBN has directed the acceptance of the notes, it disowned the information. However, flyers from some of the DMBs to

BUSINESS

Only customers with N500,000 above will be attended to – CBN

Daily Dispatch February 17, 2023

The Kogi State branch of the Central Bank of Nigeria has ordered individuals with less than N500,000 to visit their various banks to exchange them with new naira notes. Checks at bank offices located at Hassan Katsina Road, Zone 8 in Lokoja revealed those with less than 500,000 were advised to visit their banks, Nigerian […]

BUSINESS

Just In: CBN did not authorise any bank to collect N500, N1000 old note

Daily Dispatch February 17, 2023

The Central Bank of Nigeria has debunked false media report that it authorised commercial banks to collect old N500, N1000 notes. A statement signed by Osita Nwanisobi, director, Corporate Communications of CBN and made available to Realnews on Friday February, 17 stated that “the attention of the Central Bank of Nigeria has been drawn to some fake […]

BUSINESS

FG spends over N400million monthly on subsidy now, says NNPCL

Daily Dispatch February 17, 2023

The Nigerian National Petroleum Company Limited, on Friday, revealed that the amount spent as subsidy on Premium Motor Spirit, popularly called petrol, had crossed N400bn monthly. NNPCL’s Group Chief Executive Officer, Mele Kyari, disclosed this at the Headquarters of the oil firm at the ongoing Final Cutover to NNPC limited, from being a corporation. Kyari […]

BUSINESS

Central Bank introduces portal for deposit of old Naira notes for Nigerians

Daily Dispatch February 16, 2023

The Central Bank of Nigeria (CBN) has created a portal for the deposit of old naira notes. The bank published a notification entitled: “redemption of currency” during a Wednesday check on the apex bank’s website. According to the CBN, Nigerians could redeem their old N1,000, N500, and N200 notes by completing an online form. The […]

BUSINESS

Emefiele meets with heads of 15 banks on making N200 notes available with immediate effect to ease cash crunch

Daily Dispatch February 16, 2023

The Governor of Central Bank of Nigeria (CBN), Godwin Emefiele disclosed on Thursday that he had met with 15 heads of commercial banks to ease cash crunch. The meeting followed President Muhammadu Buhari’s directive in his national broadcast to the nation that the CBN should recycle into the banking system the old 200 Naira notes. […]