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Tag: Nigeria Central Bank (CBN)
The CBN updates the foreign exchange market and removes the restriction
The Central Bank of Nigeria, CBN, has announced further policy changes. According to the Director of Corporate Communications, Dr Isa AbdulMumin, the policy changes are aimed at promoting transparency, liquidity…
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Old Naira notes remain valid till Dec 31
The Supreme Court has declared the Federal Government’s naira redesign policy unconstitutional and ordered that old N200, N500, and N1000 notes remain in circulation until December 31, 2023. The court…
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Massive crowd at CBN office in Lagos state as Nigerians struggle to deposit their old N500 and N1000 notes
There is currently chaos in front of the Central Bank of Nigeria annex located in Marina, Lagos state as a large number of Nigerians stormed the building to deposit their…
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Currency redesign meant to curb illicit hoarding, says Buhari
President Muhammadu Buhari has reassured citizens that the government’s currency swap is not meant to target innocent individuals, but rather corrupt individuals and those involved in terror financing who hoard…
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Senate backs CBN on naira redesign
The proposed Naira redesign by the Central Bank of Nigeria has gotten the support of the senate. At plenary on Wednesday, November 16, the senate resolved to provide the legislative support…
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Should Nigerians look forward to a positive economy with the Yuan Naira deal?
Nigeria and China have long been business partners and the recent currency swap agreement between both countries valued at Renminbi (RMB) 16bn according to the CBN spokesperson, Isaac Okorafor, is…
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