N1000

The Centre for the Promotion of Private Enterprise (CPPE) on Sunday appealed to the Central Bank of Nigeria (CBN) to peg the customs duty exchange rate at N1,000 per dollar for the rest of the year in line with the federal government’s commitment to ease economic hardship on the citizens. In a statement signed by Muda Yusuf, director of CPPE, the think tank said the current customs duty exchange rate of N1488.9/$ is too high in the context of the current inflation and difficulties facing businesses and citizens.…

The Central Bank of Nigeria on Monday directed commercial banks to dispense and receive old naira notes as legal tender across Nigeria. A statement by the Acting Director, CBN Corporate Communications, Isa AbdulMumin, said that the CBN gave the directive at a Bankers’ Committee meeting. The CBN made its position known hours after the presidency said that the CBN had no reason not to comply with the order of the Supreme Court on the naira redesign policy. Earlier on Monday, a statement by presidential…

The Central Bank of Nigeria (CBN) on Tuesday debunked claims that President Muhammadu Buhari approved the reissuance and release of old N500 and N1000 notes as legal tender in the country. In a statement signed by the spokesperson of the bank, Osita Nwanisobi, the apex bank described the claims as “fake”. The bank said it is only reissuing the old N200 as approved by the president. “The attention of the Central Bank of Nigeria has been drawn to a FAKE PRESS RELEASE Purported to have emanated from the Bank to the…