Business
Shehu Sani reacts to plan to redesign national currency
Shehu Sani, a former Kaduna senator, has reacted to the plan to redesign the national currency.
The Central Bank of Nigeria announced on Wednesday, October 26, 2022, that some naira notes will be redesigned. The affected notes include 200, 500, and 1000 naira notes.
The new policy will take effect on December 15, 2022, and the old naira notes will be removed from circulation by January 31, 2023.
The governor of the CBN, Godwin Emefiele, disclosed this at a press conference in Abuja.
The action was taken in order to take control of the currency in circulation, according to the CBN boss.
Emefiele said that President Muhammadu Buhari has given the central bank permission to replace the currency in circulation with new notes.
In reaction to the news, Shehu Sani said, “He changed the national currency in 1984; he is changing the national currency in 2022 and for the same reason.”
President Muhammadu Buhari was the military head of state when the currency was changed in 1984.
-
Business7 days agoAbuja gears up for Jetour T2’s rugged-luxury experience
-
News5 days agoUK, Canada pledge closer cooperation on trade, defence and AI
-
Business1 week agoNigeria Business Outlook: Dangote IPO, markets, inflation and naira in focus this week
-
Business1 week agoDangote IPO rush crashes Bamboo login as investors flood platform
-
Business6 days agoTinubu’s economic reforms face public confidence test as cost-of-living crisis persists
-
Business6 days agoDangote: Petrol price gap fuels smuggling as Nigeria faces fresh pump price surge
-
Business3 days ago
Dangote Refinery IPO: Can small investors really make money from the shares?
-
Comments and Issues4 days agoWavy fuel prices and deepening cost-of-living crises in Nigeria