# Tags
Central Bank of Nigeria, CBN

Nigeria’s Money Supply Soars to N66.4 Trillion in September 2023

Nigeria’s Money Supply Soars to N66.4 Trillion in September 2023 Data from the Central Bank of Nigeria reveals Nigeria’s total money supply (M2) rose to N66.4 trillion in September 2023. The money supply, identified as M2, captures the total amount of money available in the economy at a particular moment. This includes physical currency such […]

President Asiwaju Bola Ahmed Tinubu

President Tinubu Commits to Clearing $3 Billion FX Contracts Backlog in Nigeria

President Tinubu Commits to Clearing $3 Billion FX Contracts Backlog in Nigeria President Bola Tinubu has vowed to clear a gaping foreign exchange future contracts backlog which has drained investor confidence in the country’s bold FX reforms. The Central Bank of Nigeria (CBN) sold what is called forward contracts to several Nigerian businesses with the […]

CBN, Godwin Emefiele

CBN Revokes Licences of 132 Microfinance Banks, Others

CBN Revokes Licences of 132 Microfinance Banks, Others The Central Bank of Nigeria (CBN) has announced revocation the licences of 132 Microfinance Banks, three Finance Companies and four Primary Mortgage Banks across the country. The revocation is contained in a gazetted circular signed by the CBN Governor, Mr Godwin Emefiele, in Abuja. According to Emefiele, […]

CBN, Godwin Emefiele

Finally, CBN Approves Old Notes as Legal Tender

Finally, CBN Approves Old Notes as Legal Tender By Alabidun Shuaib AbdulRahman The Central Bank of Nigeria, CBN, has stated that the old N200, N500, and N1,000 banknotes will remain legal tender until December 31, in compliance with the Supreme Court’s March 3 ruling. Isa AbdulMumin, CBN’s Acting Director, Corporate Communications, explained that this is […]

CBN Governor, Godwin Emefiele

CBN Approves Recirculation of Old Naira Notes

CBN Approves Recirculation of Old Naira Notes The Central Bank of Nigeria, CBN, has approved the recirculation of old naira notes to customers via automated teller machines (ATMs) and over-the-counter by commercial banks. The decision is in compliance with the directive of the supreme court, which extended the validity period of the old notes until […]

How to Deposit Your Old Naira Notes — CBN

How to Deposit Your Old Naira Notes — CBN The Central Bank of Nigeria (CBN) has issued guidelines for depositing old versions of the redesigned naira notes at its branches across the country. The apex bank announced on Tuesday that the exercise will take place between February 15 and 17. In its announcement, the CBN […]

CBN, Godwin Emefiele

Amidst Scarcity, CBN Orders Over-the-counter Payment of New Naira Notes

Amidst Scarcity, CBN Orders Over-the-counter Payment of New Naira Notes The Central Bank of Nigeria has directed commercial banks to begin the payment of the new naira notes to customers over the counter. A statement by the Bank’s Director, Corporate Communications, Osita Nwanisobi said it is part of moves to ameliorate the plight of Nigerians […]

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