Tag: CBN governor Emefiele

‘Emefiele not involved in Lagos State politics’ – CBN

Aminu Imam

The Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has no involvement in politics, especially as regards the March 18 governorship election in Lagos State, the bank stated yesterday, in Abuja. Its acting Director, Corporate Communications, Mr Isa AbdulMumin, made the declaration in reaction to a newspaper report, titled: “Emefiele launches fresh plot against President-elect, Tinubu’’. According to the newspaper report, Emefiele gave money to a certain candidate in the Lagos State governorship election to spite the president-elect, Sen. Bola Tinubu. However, AbdulMumin said the story is completely false and…

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2023: “CBN will not be used to frustrate polls” – Emiefele

Aminu Imam

Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has said that the apex will not allow itself to be used to frustrate the forthcoming general elections. Emefiele, who spoke when the Chairman of the Independent National Electoral Commission, (INEC), Prof. Mahmood Yakubu, led eleven National Commissioners on a visit to the Bank, said the CBN will make available every cash needed to pay logistics for the success of the elections. He was responding to a request from the INEC Chairman that the CBN should find a way of addressing the…

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Naira Scarcity: “Nigerians suffering; don’t be dogmatic with deadline”, Tinubu tells CBN Gov.

Aminu Imam

Presidential candidate of the ruling All Progressives Congress (APC), Asiwaju Bola Tinubu, has counseled the Central Bank of Nigeria, (CBN) to be pragmatic, rather than being dogmatic in its deadline for the swap of old currency notes for new ones, saying the sufferings of Nigerians must not be overlooked. This was as he again appealed to Nigerians to remain calm as the government and relevant agencies continue to work out solutions to both Naira and fuel scarcity. Director, of Media and Publicity at the APC Presidential Campaign Council PCC, Bayo…

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Court stops CBN, Buhari from extending deadline for old Naira notes

Aminu Imam

A High Court sitting in the Federal Capital Territory, (FCT), has restrained President Muhammadu Buhari, the Central Bank of Nigeria, (CBN), its Governor, and 27 listed commercial banks from suspending, stopping, extending, or interfering with the currency redesign Feb. 10 terminal date, or issue any directive contrary to that date. In a Motion by five of the eighteen political parties, the Court, presided over by Justice Enenche also granted an order directing the Chief Executive Officers (CEO’s) of the banks and their alter egos to show cause why they should…

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New Naira Notes: “We’re on our knees”, Emefiele begs Nigerians

Aminu Imam

…Rules out 10-day extension The Central Bank of Nigeria, (CBN) Governor, Godwin Emefiele, has ruled out the possibility of extending the 10-day grace for the old Naira notes to remain in circulation.  The governor, who made the appeal on Friday during a press conference in Lagos, said the pain is temporary, stressing that cash will be available in no distant time.  Emefiele appealed to Nigerians to endure the pains emanating from difficulties in getting the newly redesigned Naira notes from financial institutions. He said the leadership of the apex bank…

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Naira Redesign: “Banks will accept old currency notes after deadline” – Emefiele

Aminu Imam

The Central Bank of Nigeria (CBN) yesterday assured the members of the public that nobody will lose money, as deposit money banks will continue to accept old Naira notes after its deadline for the currency swap. The CBN Governor, Godwin Emefiele, gave the assurance in Abuja, during an interactive session with the House of Representatives ad-hoc Committee on the Currency Redesign and Naira swap policy. Recall that the CBN on Sunday extended the deadline for the phase-out of old naira notes by 10 days from January 31, 2023 to February…

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‘Why Buhari approved old naira deadline extension’ — Emefiele

Aminu Imam

President Muhammadu Buhari, yesterday, in Daura, Katsina State, approved the Central Bank of Nigeria (CBN)’s request to extend the deadline for swapping old naira notes with the redesigned notes from January 31, 2023, to February 10, 2023. Buhari also approved a seven-day grace period, which runs from February 10 to February 17, to allow Nigerians to deposit their old notes at the CBN after which the old notes cease to be legal tender. The CBN governor, Godwin Emefiele, disclosed these to State House correspondents shortly after he met the President…

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“Buhari, Emefiele deserve commendation for introducing POS cash-swap initiatives” – ACJHR

Aminu Imam

A Civil Society Organisation (CSO), African Center for Justice and Human Rights, (ACJHR) has described the Central Bank of Nigeria, CBN Governor, Godwin Emefiele as a man who has shown his heart is with the upliftment of the poor, with the Point-of-Sales (POS) cash-swap initiative. Recall the CBN launched the Cash-Swap Programme, January 23, 2023, as a means to reach out to the grassroots residents that have limited access to financial products, to enable them to bring in their old notes before the January 31 deadline date. The CBN’s decision…

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Stamp Duty Controversy: “Only N370bn, not N89tr collected as revenue in 6 years” – Emefiele

Aminu Imam

Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, says the total revenue collected as stamp duty in six years between 2016 and 2022 is N370,686 billion. Recall that a House of Representatives member representing Kazaure, Roni, Gwiwa, Yankwashi, of Jigawa State, Muhammed Gudaji Kazaure, had in 2022 raised an alarm over alleged theft of stamp duty proceeds running into N89 trillion. Emefiele, however, made his declaration of N370,686 billion yesterday in Abuja, after the Monetary Policy Committee (MPC) meeting, and stressed that the CBN was not withholding any…

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Buhari meets Emefiele at Villa

Aminu Imam

President Muhammadu Buhari yesterday met with the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, at the Presidential Villa, Abuja. Recall that Emefiele recently resumed duty after he returned from his annual leave abroad. It is his second meeting with the President in the year. Although the details of the meeting remained unknown, the meeting is the second between the President and the CBN Governor on the same day.  Earlier, Emefiele was part of the audience President Buhari granted the Arab Bank for Economic Development team, at the…

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