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Old naira

Naira Opens Week With Gain Across FX Markets

Naira Regains Some Value Lost To Dollar, Forex Traders Raise Transaction Volume

March 23, 2023

On Wednesday, 22 March 2023, the Naira regained some value lost to the United States Dollar (USD), after appreciating by –0.10 per cent in the official market. This means the cost of

CBN Naira Redesign Policy Deteriorates Business Condition – Stanbic IBTC

Business News

Buhari Lists 7 Benefits Of CBN’s Naira Redesign Policy, Defends Emefiele’s Actions

February 16, 2023

President Muhammadu Buhari has defended the Naira redesign policy of the Godwin Emefiele-led Central Bank of Nigeria (CBN). Buhari said all activities of the CBN as regards the Naira redesign policy are

Tax Reform Bill: No Region Will Be Shortchanged, Shehu Sani Tells Northerners

Business News

Naira Redesign: Revoke Central Bank Office’s C of O – Shehu Sani To Ganduje

February 15, 2023

The former Kaduna State lawmaker, Shehu Sani, has reacted to the clampdown on commercial banks by the Kano State government over the Naira redesign policy. Governor Abdullahi Ganduje of Kano state had

Business News

Foreign Representatives Meet CBN’s Emefiele Over Naira Redesign Chaos

February 15, 2023

Diplomatic Corps met with the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Tuesday, 14 February 2023, amid the Naira redesign policy that has caused chaos within the country.

Criticism Trails Senate's Approval Of CBN’s N22.7 trillion Loans To FG

Business News

Presidency Contradicts CBN, Banks On Supreme Court Ruling On Old Naira Notes

February 15, 2023

The Presidency has contradicted the Godwin Emefiele-led Central Bank of Nigeria (CBN) regarding the ruling of the Supreme Court on the old Naira notes deadline. It was stated that neither the Federal

Council Of State Tenders Two Solutions To Nigeria's Naira Scarcity Issue

Business News

UPDATED: Print New Notes Or Release Old Naira – State Council

February 10, 2023

The Council of State has urged the Federal Government and the Central Bank of Nigeria (CBN) to either print more new Naira notes or recirculate the old banknotes. Members of the Council

Business News

Old Naira Deadline: FG Bows To Supreme Court Order, CBN Keeps Mum

February 10, 2023

The Federal Government has stated that it will obey the ruling of the Supreme Court, as it makes plan to get the order set aside on Wednesday, 15 February 2023. According to

KPMG Makes Naira Projection After Foreign Capital Importation Drops To $1.06 billion

Business News

Naira Scarcity: Nigerians Have Been Betrayed By Banking System – TUC Says, Threatens FG

February 10, 2023

The Trade Union Congress (TUC) said Nigerians have been betrayed by the banking system due to the failure of the Central Bank of Nigeria (CBN) to successfully implement the Naira redesign policy.

Business News

UPDATED: IMF, World Bank Warn CBN On Naira Transition Timeframe

February 9, 2023

The International Monetary Fund (IMF) and the World Bank have cautioned the Central Bank of Nigeria (CBN) over its handling of the transition from the old Naira to new banknotes. Nigeria’s financial

Access Bank Obtains Central Bank of Angola’s Approval To Acquire 80% of Finibanco

Business News

VIDEO: Female Student Suffers Panic Attack In Access Bank, Security Snubs Her

February 8, 2023

A female student allegedly suffered a panic attack at the Access Bank branch in Rivers State University, Port Harcourt, as Nigerians struggle to access their money from banks across the country. In

Supreme Court Favours Northern States, Suspends Old Naira Deadline

Business News

Updated: Supreme Court Suspends Old Naira Deadline, Favours Northern States

February 8, 2023

The Supreme Court ruled in favour of three Northern States, Kaduna, Kogi and Zamfara on Wednesday, 8 February 2023, after they requested that the deadline to phase out old Naira notes be

Business News

CBN, Banks Don’t Have Infrastructure For New Naira Transition – Dakuku Peterside

February 7, 2023

The former Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dakuku Peterside, has disclosed that the Central bank of Nigeria (CBN) and the Deposit Money Banks (DMB) don’t have

Business News

CBN Failed In Duty To Manage Naira Redesign Policy – Dakuku Peterside

February 7, 2023

The former Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dakuku Peterside, said the Central Bank of Nigeria (CBN) failed in its duty to manage the transition from the

Business News

NACCIMA DG Says Printing N5,000 Notes Better, Faults Emefiele’s Naira Redesign Policy

February 7, 2023

The Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Sola Obadimu, has suggested that the introduction of N5,000 notes would have prevented the Naira policy debacle.

Business News

Nigerians Divided Over Who To Blame For CBN’s Naira Redesign Crisis

February 6, 2023

Nigerians are divided over who to blame for the crisis that has erupted from the transition from the old Naira to the redesigned banknotes. Prime Business Africa reported that Nigerians are stripping

Business News·Currency

Prime Business Africa Hosts Twitter Space To Discuss CBN’s Naira Debacle

February 3, 2023

As Nigerians suffer the ripple effect from the Central Bank of Nigeria’s (CBN) hasty transition from the old Naira to the redesigned banknotes, Prime Business Africa has organised a Twitter space to

2023 Elections·Business News·Currency

Old Naira: Buhari, Governors Meet, To Decide On Extension In 7 Days

February 3, 2023

President Muhammadu Buhari met with Governors of the All Progressive Congress (APC) on Friday, 3, February 2023, over the prolonged scarcity of Naira notes in Nigeria. The governors visited the State House

Business News

Finance Minister Likens Hardship Caused By Old Naira Deadline To Injury

February 2, 2023

The Minister of Finance, Zainab Ahmed, has described the current distress experienced by Nigerians due to the unavailability of the redesigned Naira as a sore that would eventually be cured. Ahmed said

Call CBN to arrest POS agents selling naira notes

Business News

Old Naira: PoS Operators, Market Women Risk Jail Term, As CBN Threatens Arrest

February 2, 2023

The Godwin Emefiele-led Central Bank of Nigeria (CBN) has warned that the financial regulator will start arresting persons selling the Naira notes. In a circular released on Thursday, 2, February 2023, the

Business News

Nigeria’s GDP At Risk, As Transition From Old Naira To New Affects 2 Major Sectors

February 1, 2023

The founder of the Centre for the Promotion of Private Enterprise (CPPE), Muda Yusuf, said sectors driven by cash are struggling with the transition from old Naira notes to redesigned banknotes. Yusuf identified

Business News

CBN Act Prevents Banks From Rejecting Old Naira After Deadline, Emefiele Meets Reps

January 31, 2023

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said commercial banks will continue to receive the old Naira notes after the deadline on 10, February 2023. Emefiele said

CPPE Highlights Why Nigerian Govt Should Review Customs FX Rate For Cargo Clearance

Business News

Old Naira: Expert, Muda Yusuf, Compares UK, CBN’s Currency Transition, Obstacles

January 30, 2023

The former Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Muda Yusuf, said on Monday, 30, January 2023, that the two months timeframe for the old Naira to cease being

Business News

Old Naira: How CBN’s Deadline Is Disrupting Ecowas Regional Trade – Dr. Muda Yusuf

January 30, 2023

The founder of the Centre for the Promotion of Private Enterprise (CPPE), Muda Yusuf, has revealed that the short deadline to phase out the old Naira notes is affecting trade in the

Nigeria's Treasury Bills Surpass N6.6trn In 2023 Amid Economic Headwinds

Business News

Just In: Emefiele Extends CBN’s Deadline For Old Naira Notes By 10 Days

January 29, 2023

The Governor of the Central Bank of Nigeria (CBN) has extended the timeframe to phase out the old Naira notes two days before the initial deadline. Prime Business Africa had reported that

Business News

Jumia, Chicken Republic Reject Old Naira Notes

January 27, 2023

African e-commerce platform, Jumia, has also announced that the company will start rejecting old naira notes, days after Chicken Republic made the same decision. Companies are beginning to notify their customers as

Cash In Circulation Up By N701.4 billion, Emefiele's CBN Loses Control Again

Business News·Currency

Pure Water Sellers, Chicken Republic Announce Dates To Stop Accepting Old Naira Notes

January 26, 2023

Small and medium businesses have began to reject old naira notes, as the deadline for the banknotes to become illegal nears. Prime Business Africa had reported that the Central Bank of Nigeria

Governor of Nigerias Central Bank Godwin Emefiele

Business News

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