New Naira Notes

Buhari Accuses Banks of Greed, Says CBN Assured Enough New Naira Notes

by

The Central Bank of Nigeria (CBN), according to President Muhammadu Buhari, told him that there was “capacity, staff, and equipment” to print enough replacement naira notes. He claimed that before he gave his blessing to the naira redesign strategy, he received the promise. After discussing the issue with the governors of the All Progressives Congress … Read more

CBN Authorizes Over-the-Counter Payment of New Naira Notes

by
Central Bank of Nigeria Governor

Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN), gave deposit money banks (DMBs) yesterday instructions to start issuing the newly designed naira notes over the counter, with a N20,000 daily payout cap. Emefiele also asked Nigerians to be patient, noting that the central bank was making serious efforts to address the issue … Read more