Cashless Policy

September 15, (THEWILL) — Nigerians have continued to suffer income decline through levies imposed by the government to boost revenue to fund the budget. One area this has happened is the Electronic Money Transfer Levy (EMTL).   The EMTL funds climbed...

October 22, (THEWILL) - A major policy change by the Cross River State government is threatening the cocoa revolution drive of the previous administration in the state. This follows the setting up of a new cocoa allocation committee with terms...

June 29, (THEWILL) - President Bola Tinubu on Thursday, in Ijebu-Ode, Ogun State, said he remained hopeful and optimistic about achieving victory in the last presidential election, despite the ineffective cashless policy implemented by the Central Bank of Nigeria...

June 18, (THEWILL) - The Central Bank of Nigeria (CBN), has lifted the cash deposit restrictions placed on domiciliary accounts. According to the apex bank, holders of such account are permitted to utilise cash deposits not exceeding $10,000 per...

Nigeria’s deposit money banks and other financial institutions, together with the Federation Accounts Allocation Committee (FAAC), raked in N135.56 trillion from electronic payment transactions in the first quarter (Q1) of 2023 as the Central Bank of Nigeria (CBN) intensifies...

April 30, (THEWILL) - The Central Bank of Nigeria (CBN) has debunked reports that it is planning the withdrawal of the recently redesigned N1000, N500 and N200 banknotes from circulation CBN’s Acting Director, Corporate Communications Department, Isa AbdulMumin, made this...

March 23, (THEWILL) - The Central Bank of Nigeria (CBN) has released the old Naira notes to deposit money banks, to ease the current cash crunch across the country. The development followed the March 3 judgement of the supreme...

March 09, (THEWILL) - The Central Bank of Nigeria (CBN), has been advised to implement adequate national technology backbone and other fundamental measures to alleviate the adverse impact of the Naira redesign policy on Nigerians, and expedite the transition...

February 16, (THEWILL) - The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has met with 15 heads of commercial banks to ease the ongoing cash crunch in the country. THEWILL reports that President Muhammadu Buhari, on Thursday,...

February 15, (THEWILL) - A survey conducted by this newspaper between February 10 and 14, 2023 revealed that more residents of Lagos, Nigeria’s commercial capital, have embraced alternative payment platforms as the scarcity of Naira notes bite harder. ...