Bayelsa Residents Protest Over Rejection of Old N500, N1000 Notes Residents of Akenfa community, in Yenagoa Local Government Area of Bayelsa State, on Friday, took to the streets to protest the continued rejection of the old N500 and N1000 notes by traders in the state. The...

Banks’ Credit To Govt Rises By N11trn   Banks credit to the government rose by N11.75tn in one year, figures obtained from the Central Bank of Nigeria (CBN) have revealed. The CBN disclosed in its ‘Money and credit statistics’ report that the credit rose from N14.9tn as...

Banks’ Demand Deposits Hit N1.67 trillion in Three Months The Central Bank of Nigeria (CBN) financial data stated that Nigeria’s demand deposits added N1.67 trillion in October (when the naira redesign was unveiled) to hit an all-time high of N20.18 trillion in January. Demand deposits, savings...

Banks’ Commission From Customers Increase By 14% To N219.77bn   Amid severe competition from Fintech companies, six banks operating in Nigeria generated a sum of N219.77billion fees and commission for the year ended December 31, 2022 representing an increase of 14 per cent from N192.22billion reported...

Naira Redesign: CBN Issues Guideline on Return of Old Naira Notes  By Lawan Bukar Maigana The Central Bank of Nigeria, CBN, has issued guidelines on how Nigerians who are still stuck with the old N200, N500 and N1000 notes can return them to the nearest branch...

CBN Debunks Claims Of Shortage Of Printing Materials, Plans To Shut Down Banks 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...