Connect with us

Breaking News

BREAKING NEWS: CBN to release re-designed Naira notes December

Emefiele added that the redesigning of Naira notes would help to curb counterfeit notes, as well as hamper ramson payment to terrorists and kidnappers.

Published

3 years ago

on

Naira vs dollar

The Governor, Central Bank of Nigeria, Godwin Emefiele, has announced that the bank would release re-designed Naira notes by December 15, 2022.

He also said that existing notes would seize to be regarded as legal tender by January 31, 2023.

Emefiele disclosed this during a press briefing in Abuja on Wednesday.

Advertisement

The CBN said that it is worrisome that 85 per cent of the currency in circulation is being hoarded by Nigerians.

He further urged Nigerians to proceed to their banks to deposit their Naira notes, adding that the deposit fee would be waived for transactions below N150,000.

Emefiele added that the redesigning of Naira notes would help to curb counterfeit notes, as well as hamper ramson payment to terrorists and kidnappers.

Advertisement
Related Topics:

Opinion Nigeria is a practical online community where both local and international authors through their opinion pieces, address today’s topical issues. In Opinion Nigeria, we believe in the right to freedom of opinion and expression. We believe that people should be free to express their opinion without interference from anyone especially the government.

Continue Reading
Advertisement
Comments

Trending Articles

Democracy & Governance2 hours ago

PEOPLE POWER REVOLUTION: Between Omoyele Sowore/Nigeria and Julius Malema/SouthAfrica -By Richard ODUSANYA

Omoyele Sowore represents a different model—what might be called “dissident outsiderism.” A former student leader (President) and a courageous non-conformists....
Bob Marley Bob Marley
Global Issues19 hours ago

The Politics of Liberation: Bob Marley in Postcolonial Discourse -By Patrick Iwelunmor

Through the metaphor of Babylon, Marley diagnosed the postcolonial condition with prophetic clarity. Babylon was not just ancient scripture; it...
SOWORE SOWORE
Democracy & Governance1 day ago

Sowore’s Reckless Utterances: No One Is Bigger Than the Constitution -By Kelvin Adegbenga

Nigeria is a country governed by law, not by noise-makers or professional agitators. Sowore’s repeated denigration of state institutions and...
Akinwunmi Ambode Akinwunmi Ambode
Democracy & Governance1 day ago

Lagos Needs Proven, Transformational Leadership Again: A Case for Governor Akinwunmi Ambode -By Ayodeji Olatubora, Esq

Ambode’s government pushed the next phase of Lagos’s long-term transport reform: expanding Bus Rapid Transit (BRT) capabilities, planning depot rollouts,...
Natalia Krasovskaya, member of the State Duma's Expert Council, Moscow. Natalia Krasovskaya, member of the State Duma's Expert Council, Moscow.
Forgotten Dairies2 days ago

Russia’s Multifaceted Public Diplomacy Catching Up With Africa -By Kestér Kenn Klomegâh

Russia has, historically, supported African countries in their desire to determine their own national policies and gain true independence. And...