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Tag: Naira

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 […]

Naira falls N777 against dollar after CBN announcement
News

BDC operators demand new forex window

The Association of Bureaux De Change Operators of Nigeria has called on the Central Bank of Nigeria to establish BDCs’ Autonomous Foreign Exchange Trading window with a determined maximum daily limit. This, according to the association, will enable eligible BDCs to access dollars from banks, autonomous market, and Diaspora forex widow at the prevailing market […]

Economy

Naira loses to dollar, closes at 419

The Naira on Monday depreciated at the Investors and Exporters window, exchanging at N419 to the dollar, a 0.48 per cent depreciation, weaker than N417 it traded on Friday. The open indicative rate closed at N419 to the dollar on Monday. An exchange rate of N423.00 to the dollar was the highest rate recorded within […]

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