Tag Archives: cash

Farmers who live in rural areas far away from the banks are currently finding it difficult to adapt to the new Naira policy as some do not have existing bank accounts, while others do not know how to use internet banking. Findings by The Nation reveal that some farmers now engage in trade-by-barter just to meet their daily dietary needs. ...

NATIONAL BROADCAST BY HIS EXCELLENCY MUHAMMADU BUHARI, PRESIDENT, FEDERAL REPUBLIC OF NIGERIA ON THE CHALLENGES OF THE CURRENCY SWAP AND STATE OF THE NATION, ON 16th FEBRUARY, 2023 My Dear Compatriots, I have found it necessary to address you today, on the state of the nation and to render account on the efforts of our administration to sustain and strengthen ...

The cash scarcity and implementation of the revised daily cash withdrawal by individual and corporate bank customers by the Central Bank of Nigeria (CBN) that has fuelled resort to the use of electronic channels of transferring cash may soon shoot up debts owed to telecom firms by commercial banks over the use of the Unstructured Supplementary Service Data (USSD), it ...

The Central Bank of Nigeria (CBN) has ordered commercial banks  and other financial institutions to ensure that weekly cash withdrawals by individuals and corporate entities do through over-the-counter (OTC) do not exceed N100,000 and N500,000, respectively. The apex bank issued this announcement on Tuesday in a circular signed by CBN Director of Banking Supervision, Haruna Mustafa. The bank said the ...