The Federal High Court, Awka, has dismissed the suit by the Incorporated Trustees of African Initiative Against Abuse of Public Trust seeking to stop the Central Bank of Nigeria (CBN),
At this time when even the First Bank cannot truly be the first to make new Naira notes available to its numerous customers, when Access Bank customers too cannot access redesigned currencies, when the Unity Bank, Union Bank and United Bank for Africa..
A Community leader has attributed the scarcity of money in the country to panic withdrawal engaged by citizens.
As Nigerians mark a week of anguish and frustration over naira swap policy, the Central Bank of Nigeria (CBN) has placed cash operations of banks on strict monitoring, as concerns over handling of new naira notes disbursed to the lenders continue.
The naira redesign policy of the Central Bank of Nigeria (CBN) has brought suffering on the citizens while endangering the economy, the Lagos State House of Assembly has lamented.
This is a hard time for Nigerians. We are not only grappling with worsening fuel scarcity but also the scarcity of the redesigned banknotes. Between the two economic crises, I can’t say which is intolerable.
Three months ago, the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, announced the policy to redesign the Naira.
Several business transactions have been truncated due to insufficient funds caused mainly because of lack of new naira notes.
As citizens become agitated over rejection of the old N200, N500 and N1,000 notes ahead of the January 31 deadline, more voices, yesterday, weighed in strongly against the currency redesign swap policy amid calls for extension.