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Naira falls N777 against dollar after CBN announcement
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Tag: New Naira

Old, new naira notes remain legal tender - CBN
featured

Old, new naira notes remain legal tender – CBN

  The Central Bank of Nigeria has directed all its branches across the country to maintain a steady supply of both old and redesigned banknotes in different denominations to commercial banks. This decision was communicated through a statement signed by the Director of Corporate Communications, Isa AbdulMumin, at the central bank, and posted on its […]

JUST IN: Emefiele orders banks to dispense old naira notes - Soludo
featured Policy and Regulations

Naira crisis: Emefiele’s crime more than electoral fraud, says Soyinka

Nobel laureate, Prof Wole Soyinka, has knocked the Central Bank Governor, Godwin Emefiele, over the hardship that the new naira redesign policy and recent naira notes crisis plunged the entire country into.   Soyinka said this during an interview on Channels TV on Monday, stating that Emefiele’s crime was against humanity and even more than […]

Court Symbol of Justice
Business

New naira: Supreme Court passes verdict on Friday

Supreme Court is said to pass its verdict today (Friday) on a suit instituted by some state governments against the Federal Government on the Naira re-design and cashless policy. This publication recalls that the Supreme Court’s seven-man panel of Justices led by Justice John Inyang Okoro had on Wednesday, February 22 adjourned the case of […]

Economy

Naira crisis: No money to cook food, Orji Kalu laments

Wilson Adekumola     Senate Chief Whip, Orji Uzor Kalu has complained about the hardship and pains the Central Bank of Nigeria inflicted on Nigeria through its monetary policy.     Senator Kalu, who made this complaint on a Channels Television program on Monday, said the naira scarcity has brought suffering to him and his […]

The old 500 and 1000 naira noted
Business

Old naira: Buhari, CBN, govs throw Nigerians into confusion

El-Rufai, Ganduje, Abiodun disregard Buhari’s order… Nigerians have been thrown into a state of confusion by the President, Major General Muhammadu Buhari, the Central Bank of Nigeria and some state governors owing to their conflicting positions on the old and new naira policy. Punch Metro reported that Buhari on Thursday ordered the CBN to allow […]

Bismarck Rewane
Business

CBN policy may cost $18bn GDP loss monthly – Rewane 

The chief executive officer of Financial Derivatives Company, Bismarck Rewane, has said that the Central Bank of Nigeria’s policy on the currency swap would cost Nigeria a Gross Domestic Product loss of $18 million monthly. According to him, Nigeria may experience a total man hour loss of five days per month owing to the disruption […]

A photo of the governor of Kano State, Dr Abdullahi Gandjue
Business

Ganduje shuts Kano supermarket over old naira rejection

The Governor of Kano State, Dr Abdullahi Gandjue, directed the State’s acting Chairman of the Consumer Protection Council, Dr Baffa Babba Dan’agundi, to shut down Wellcare Supermarket. This was because the supermarket was rejecting the old notes against the orders of the state government. Dr Baffa disclosed this after shutting down the supermarket. He also […]

Godwin Emefiele, CBN Governor and the redesigned naira note
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Naira crisis: CBN top officials meet on Monday

The top officials of the  Central Bank of Nigeria are to meet on Monday over the redesigned naira notes crisis. The aim of the meeting is to proffer solutions that will address the naira hardship. The Punch reported that the meeting will review the advice offered by the National Council of State. The Council suggested […]

President of the MAN, Francise Meshioye
Business

MAN tasks CBN on effective monetary system

The Manufacturers Association of Nigeria has urged the Central Bank of Nigeria to take on an effective monetary system to stop the hardship that is caused by the new naira design. This was stated on Tuesday by the President of the association, Francise Meshioye, at the Annual MAN reporter of the year award. According to […]

Economy featured

Supreme Court halts CBN from banning old naira

Juliet Buna   The Supreme Court on Wednesday temporarily halted the move by the Federal Government to ban the use of the old naira notes from February 10, 2023.   According to The PUNCH, a seven-member panel led by Justice John Okoro, halted the move of the federal government in a ruling in an exparte […]