CBN plans new round of recapitalisation for banks and New Foreign Exchange Laws to stabilize Naira
The Governor of Central Bank of Nigeria (CBN), Mr Yemi Cardoso has pledged that the Apex bank will soon introduce new foreign exchange laws and guidelines to achieve price stability, ensure tightening of monetary policies aimed at curbing rising inflation, encourage borrowing and real sector investment. Speaking at the 58th annual bankers’ dinner organised by […]
NASS, CBN battle over old naira notes’ deadline
The Senate and the House of Representatives has again called for the extension of the deadline set by the Central Bank of Nigeria (CBN) as the expiration date for the old N200, N500 and N1000 notes. Correspondent, Raliat Adenekan and Nathan Williams reports that the 2 legislative chambers of the national assembly urged the President […]
CBN Launches Countdown to Jan. 2023 Deadline
The Central Bank of Nigeria has launched a countdown clock on its website for the January 31, 2023 deadline for the N200, N500, and N1,000 notes currently in circulation. The apex bank had announced a Naira redesign policy to produce new notes for three of the naira denominations in circulation: N200, N500, and N1,000 notes. […]
Counterfeiting & Hoarding, Reasons for Naira Redesign – CBN
The Central Bank of Nigeria (CBN) on Thursday said counterfeiting and hoarding were the reasons for redesigning and issuing new naira notes. Mrs Amina Abdulmalik, Deputy Director, Currency Operations Department, CBN, said this at the apex bank’s special day, at the ongoing 36th Lagos International Trade Fair in Lagos. Abdulmalik also said the apex bank’s […]
