The Central Bank of Nigeria (CBN) has denied that it received presidential orders to reissue the old N500 and N1000 naira banknotes. The denial was in response to a press release purportedly
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The Centre for the Promotion of Private Enterprise (CPPE) has called on the Central Bank of Nigeria (CBN) to ensure that the naira redesign policy is adjusted to accommodate the interest of
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Prime Business Africa (PBA) reports that Nigerian banks accept old Naira notes up to N500,000 from retail customers. This was the outcome of a meeting of chief executive officers of banks following
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The new Naira policy of the Central Bank of Nigeria (CBN) has soaked-in at least N1.6 trillion in January currency mop-up alone, data from the apex bank indicates. The CBN had, in
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Following the protest and destruction of banks’ facilities across the nation over scarcityn of new naira notes, the Chartered Institute of Bankers of Nigeria (CIBN) has urged Nigerians to remain calm, assuring
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The Naira lost some value against the United States Dollar (USD) in official and black markets, on Thursday, 16 February 2023. The FMDQ Exchange, which tracks official exchange rates, reports that the
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Global credit ratings agency, Fitch Ratings, has warned that Nigeria’s exchange rate might appreciate due to scarcity of Naira notes. Fitch made this known in a report dated 14 February 2023 and
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The CBN on 26 October 2022, announced the introduction of redesigned N100, N200, N500 and N1,000 banknotes into the financial system and in December 2022, introduced the new naira note design to
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Exchange rate between the Naira and the United States Dollar (USD) fell in the official market on Wednesday, 15 February 2023. According to the exchange rate data obtained from the FMDQ Exchange,
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President Muhammadu Buhari on Thursday at 7 am addressed the nation about the naira redesign policy of the Central Bank of Nigeria, which has resulted in protests in some parts of the
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