Business
CBN begins distribution of redesigned Naira notes to bank
The Central Bank of Nigeria (CBN) has begun distributing the newly redesigned Naira notes to banks in preparation for circulation from December 15, 2022.
CBN Governor Godwin Emefiele who disclosed this during a visit to President Buhari in Daura, Katsina state, said the new notes were sent to the banks on Wednesday, insisted that the timelines – in terms of December 15 for commencement and the January 31 deadline were sacrosanct.
He also disclosed that CBN may tinker with the new policy on cash withdrawal limits.
“Since the announcement of the new policy, CBN has taken more than N500 billion from the banks and have also deposited close to that number there,”
“Only yesterday, the new currency has now reached the banks and we believe that the banks will begin to distribute them to the members of the public who are their customers,” the governor stated, adding that the visit was also to assure the president of no hitches so far in the implementation process,” Emefiele stated.
-
Latest2 days agoMakinde declares 2027 presidential bid under PDP–APM alliance
-
Featured3 days agoObasanjo faults Tinubu’s economic reforms, calls them necessary but poorly designed
-
Business3 days agoAnger, debate trail proposed $1.25bn loan amid concerns over Nigeria’s debt surge
-
Latest5 days agoWike loyalists dominate As APC clears 33 aspirants for Rivers Assembly primaries, 65 disqualified
-
Featured3 days agoWike dismisses political speculation over meeting with APC Chairman Yilwatda
-
Latest2 days agoWike says Makinde’s presidential ambition dead on arrival
-
Comments and Issues3 days agoPolitical Parties Primaries: Consensus or Coronation?
-
Business3 days agoNigeria’s 2026 debt servicing hits $11.6bn as Tinubu decries global financial inequity