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Cash outside banking system hits 88%, CBN fumes
Nigerians encountered challenges with the apex bank policy, with failed transactions, poor network and lack of cash dotting the country’s landscape between January and March.
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Note to Tinubu: Monetary, fiscal authorities working at cross purposes
A typical example of the monetary and the fiscal policies misalignment is the recent Central Bank of Nigeria (CBN) cashless policy which was planned without consultations with the Ministry of Finance.
Nigeria’s currency in circulation is lowest in 15 years
Its naira redesign policy has led to frustrations as businesses and households struggle to access their cash at banks to make daily transactions.
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Nigerians groan as poor implementation mars CBN cashless policy (2)
…the plight of Persons With Disabilities
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Nigeria loses N20tn to Emefiele’s tactless naira policy
The CBN has failed to implement the referenced Supreme Court judgment which nullified the policy and declared it as an affront on the 1999 Constitution.
Nigerians groan as poor implementation mars CBN’s cashless policy(1)
Nigeria’s cashless policy has since cause a lot of ‘discomfort’ despite the touted advantages by the apex bank.
Pressure on Emefiele after Tinubu’s victory, Supreme Court judgment
Several politicians had claimed that Emefiele’s hurried introduction of the naira redesign policy and his watertight implementation were meant to frustrate Tinubu and ensure he did not win the presidential election
Cash redesign policy fails to halt naira free fall
Contrary to the views expressed by some financial experts that the Central Bank of Nigeria (CBN)’s naira redesign policy will strengthen the currency, it has turned out to weaken it against the dollar.
Cash crunch likely to influence vote-buying during 2023 elections
With the current cash shortages amid an election, what is the fate of the election, given the history of vote-buying in previous elections?
Cash-strapped Nigerians besiege POS locations despite over 20% charges
Cash-strapped Nigerians are thronging point-of-sale shops despite over 20 percent charged on every withdrawal
Volume of e-payment transactions reflects Nigeria’s cashless policy progress
The volume of e-payment transactions in the last 10 years show that Nigeria has made progress on the cashless policy.
Naira redesign: N200 constitutes 9.2% of seven-year currency in circulation
In the seven years reviewed, the lowest number of N200 notes was recorded in 2015 when 401.63 million pieces were put into circulation. This year, N1000 and N500 have had the highest volumes in circulation, with 1.011 billion and 1.322 billion pieces, respectively.
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Anger spreads as CBN-induced cash crunch bites rural communities
Meanwhile President Muhammadu Buhari has asked the CBN to re-circulate old N200 notes till April 10 to enable Nigerians heave a sigh of relief. He said this during his broadcast on Thursday morning, noting that he was concerned about the impact of the monetary policy. He said those in possession of old N500 and N1000 notes could return them to the CBN by April 10.
CBN’s swap policy shows cash is king in Nigeria
Nigeria is moving toward a full-fledged cashless society with the Central Bank of Nigeria’s introduction of the cash swap policy.
Naira crisis worsens days after Buhari’s pledge
President Muhammadu Buhari has failed to deliver on his promise to resolve naira crisis after seven days.