Category: Money Market

FGN Suspends Further Process Of N5000 Note

N5000 Note The Federal Government as result of the outcry by Nigerians over the proposed plan introduction of the N5,000 single note, has stepped down the introduction of the note by the Central Bank of Nigeria. Presidential spokesman, Dr Reuben Abati confirmed this last night said the move was to allow more enlightenment by the…

Currency Reconstruction: CBN Go Back To Fundamental Introduce Coin Dispensing ATMs

The Central Bank of Nigeria (CBN) says it will facilitate the introduction of Automated Teller Machines (ATMs) that can dispense coins to encourage Nigerians imbibe the culture of spending them. Mr Chidi Umeano, Head of Shared Services at CBN, said on Monday in Lagos that this plan was in tune with the currency restructuring exercise.…

Continuing Delay in Subsidy Payments, Access Bank is making profit from it- OM&Ts’ solicitors

The Managing Director and Chief Executive Officer of Access Bank Plc, Mr. Aigboje Aig-Imoukhede, has been accused of delaying the payment of outstanding subsidy claims to oil marketers because of the interests accruals on the loan facility his bank granted the oil marketers. Aig-Imoukhede, it would be recalled, headed the Presidential Committee on Verification and…