New Notes Dry up as Old Cash Circulation Improves Currency circulation has improved in major cities across Nigeria following the third day full implementation of the Supreme Court ruling on the legal tender status of old Naira banknote. Findings reveal that banks have started simultaneous dispensing...

Customers Reject Deposit Conditions As Banks Dispense Old Notes More Commercial Banks have begun to dispense old N1,000 and N500 notes to their customers, about three days after a few banks started doing so. Findings revealed that Polaris Bank and First Bank had started to pay...

Commercial Banks to Shut Branches Early Ahead of 2023 Election   Deposit Money Banks have announced they will be closing early on Friday, a day ahead of the presidential polls holding nationwide on Saturday. In notices issued by banks to their customers seen by our correspondents, the...

Cash Crunch: CBN Gives Fresh Order to Banks Over Old N500, N1,000 Notes The Central Bank of Nigeria (CBN) has directed commercial banks to start collecting the old N500 and N1,000 notes from the public with immediate effect. It was also learned that the CBN however...

Naira Notes Deadline: Commercial Banks Extend Workdays to Weekends Commercial banks in Nigeria have extended their workdays to weekends for customers to deposit their old naira notes. The action is in response to the deadline set for the collection of old naira notes by the Central...

JUST IN: Fintechs May Crash Commercial Banks - CBN Raises Alarm   The Central Bank of Nigeria (CBN) has raised the alarm that Financial Technology initiatives or companies popularly called FinTechs will soon start doing better than traditional banks and may run the latter out of...