Tag: CBN

New Naira Note: Abuja court bars FG, CBN from extending deadline

Jasmin Ekua, Banking & Finance

Justice Eleoje Enenche of a High Court at the Federal Capital Territory in Abuja has on Monday restrained the Federal Government and the nation’s 27 commercial banks from suspending, stopping, extending or interfering with the currency redesignation terminal date of February 10 or issuing any directive contrary to the date. Also restrained were President Muhammadu Buhari, Central Bank of Nigeria and its Governor, Godwin Emefiele. In a motion exparte filed by five of the 18 political parties, Justice Enenche also granted an order directing the CEO’s of the banks and…

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Again, CBN reviews cumulative daily withdrawal limit on ATMs to N20,000

Jasmin Ekua, Banking & Finance

The Central Bank of Nigeria (CBN) has again effected a downward review of daily cash withdrawal limit on Automated Teller Machines (ATMs) to N20,000 from N100,000 across banks. National Infinity findings indicate that customers will only be able to withdraw a cumulative daily amount of N20,000 from their account(s) across all ATMs irrespective of the bank or the number of accounts they operate. The new review was communicated to deposit money banks earlier in the week and already took effect from January 23, 2023, sources from some of the banks…

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Aggrieved member sues CBN Gov., Emefiele, INEC over APC primary election

Benjamin Chukwudaalu, Political Reporter

A suit seeking to disqualify the Governor of the Central Bank of Nigeria, Godwin Emefiele, from participating in the All Progressives Congress presidential primary, on grounds of his non-eligibility, has been filed in a High Court in Port Harcourt. The plaintiff, Naapah Bariledum, who is a member of the APC in Ward 4, Khana Local Government Area of Rivers State, asked the court, in suit number PHC/1371/CS/2022, to disqualify Emefiele from participating in the primary. He asked this on the grounds that Emefiele was not eligible to participate in the…

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