The former CBN governor and incumbent Governor of Anambra state, Prof Charles Soludo has confirmed through a press release that commercial banks have been directed by the Central Bank to dispense old currency notes and to also receive same as deposits from customers.Soludo also insisted that tellers at commercial banks are to generate the codes for deposits and there is no limit to the number of times an individual or company can make deposits.The Governor of the CB...

The Central Bank of Nigeria has admitted that the ongoing scarcity associated with the naira redesign and cash withdrawal policy was not anticipated and that the agency failed Nigerians.It will be noted that there have been numerous protests and attacks on banks by angry Nigerians due to the inability to access cash for their regular transactions.A Deputy Governor of the bank, Folashodun Shonubi, made the admission at the 22nd fellowship conferment lecture and cerem...

President Muhammadu Buhari has said his administration will not go back on the plan of the Central Bank of Nigeria (CBN) to redesign the nation’s highest currency notes of N1,000, N500, and N200.Buhari said this on Wednesday evening in London, UK, shortly after meeting with King Charles III at Buckingham palace.Check the New Policy Below: