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Tag: Naira

Money bouquet, others abuse naira, CBN warns Nigerians
News

Money bouquet, others abuse naira, CBN warns Nigerians

  Wilson Adekumola   The Central Bank of Nigeria on Friday warned Nigerians against the practices deemed abusive to the naira currency. In a warning issued on Twitter, the apex bank told Nigerians that oractices such as money bouquet, squeezing, selling, and defacing as forms of naira abuse. Also included on the list of acts […]

JUST IN: Make new naira available, Council of State orders CBN
Economy featured

Make new naira available, Council of State orders CBN

Christian George The Council of State has ordered the Central Bank of Nigeria to make the newly redesigned naira notes available in large quantity to Nigerians. The Governor of Taraba, Darius Ishaku, made the disclosure to newsmen on Friday after the Council of State emergency meeting held in Abuja. He said, “the CBN was advised […]

Naira scarcity: Nasir El-rufai
News

Naira scarcity: Gov took N500m from single bank, claims El-Rufai

The Kaduna State Governor, Nasir El-Rufai, has said an unnamed governor received N500 million new notes. According to Daily Trust, El-Rufai, in an interview with BBC Hausa, claimed that politicians who are the targets of the naira redesign scheme already have their way. “There is nothing wrong with changing currencies; every country does it. However, […]

E-commerce

Naira notes production, destruction costs N800bn – CBN

The Deputy Governor, Financial System Stability, Central Bank of Nigeria, Aisha Ahmad, has revealed that the CBN spent N800bn between 2017 and 2021 on the production, storage, transportation and destruction of the currency. According to The PUNCH, Ahmad, revealed this on Friday during her appearance before the House of Representatives. Findings by Sunday PUNCH reveal […]

Business

Commodity cost: Nigerians lament despite naira gains

Despite the naira’s gains over the past week, Nigerians have expressed dissatisfaction with the country’s high cost of goods and services. It would be recalled that the naira, after reaching an all-time low of N900 per dollar, rebounded to N680 per dollar. According to Nairametrics, the sudden improvement was attributed by black market traders to […]

Naira redesign: CBN has my approval, Buhari clarifies
Banking

Naira redesign: CBN has my approval, Buhari clarifies

The President, Major General Muhammadu Buhari (retd), has confirmed that the Central Bank of Nigeria has his approval to redesign the naira notes. AMBusiness reported that the apex bank announced that the N100, N200, N500, and N1000 notes will be redesigned as the Nigerian currency battles its worst devaluation in recent years. This publication also […]

How more taxes'll reduce debt load - FG
News

CBN didn’t consult FG on new naira notes – Minister

The Federal Government has stated that is had prior knowledge about the Central Bank of Nigeria plan to redesign the N100, N200, N500 and N1000 naira notes. According to Vanguard, the Minister of Finance, Budget and National Planning , Zainab Ahmad, stated that if done, the move would cause great consequences for the nation and […]

Kingsley Moghalu
News

Moghalu backs CBN to redesign naira notes

Former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, has expressed support for the decision of the Central Bank of Nigeria to redesign the Naira. The former presidential candidate gave his reasons via a series of tweets on his verified Twitter handle on Friday. Moghalu explained that the decision of the apex banking […]

New naira: Beware of currency hoarders, EFCC warns BDC operators
Economy

New naira: Beware of currency hoarders, EFCC warns BDC operators

The Economic and Financial Crimes Commission has urged Bureau de Change operators to be wary of currency hoarders who would attempt to offload the currencies they had illegally stashed away. The EFCC made this known in a statement released on Wednesday while backing the Central Bank of Nigeria’s plan to redesign the naira notes. While […]

New naira'll make ransom payment difficult - CBN
Banking

New naira’ll make ransom payment difficult – CBN

The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said that the payment of ransom to kidnappers and criminal elements will be difficult once it introduces the new naira notes. AMBusiness reported that the apex bank on Wednesday announced the plan to redesign the N200, N500, and N1,000 notes by December 15. The […]

'Remove Arabic inscriptions from new naira notes'
Opinion

‘Remove Arabic inscriptions from new naira notes’

The Central Bank of Nigeria has been asked to remove the Arabic inscription from the redesigned naira notes. A Senior Special Assistant to the Governor, Benue State, on Media and Publicity, Tever Akase, said all Nigerian languages should be on the currencies, not Arabic. In a tweet, via his offcial Twitter handle, Akase lamented that […]

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