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The newly released supposedly redesigned Naira notes have received several backlash due to the insipid coloration and abysmally designed naira notes Godwin Emefiele and Buhari launched to Nigerians after billions were gulped into the project just like the Rice pyramids unveiled by same Buhari and Emefiele. However, a Nigerian has published a prototype he did
Two days after the Central Bank of Nigeria, CBN announced planned redesign of the naira the minister of Finance, Budget and National Planning, Zainab Ahmad, has rejected the idea, warning that it will have a devastating effect on the economy. Zainab who totally disowned the policy during budget defence at the Senate, said there would
The CBN announced of their plan to Redesign N200, N500 And N1,000 Notes this year. This announcement was greeted with so much reactions from Nigerians with many saying it was ill-timed and unnecessary. However, some are of the opinion that it would help fight the so much money politicians and others are hoarding especially as
The Central Bank of Nigeria (CBN) on Wednesday said it will redesign the N200, N500, and N1,000 notes. CBN Governor, Godwin Emefiele, disclosed this during a special press briefing in Abuja. The new design and issues will be effective from December 15, 2022. The action was taken in order to take control of the currency
The Central Bank of Nigeria has announced the sale of Polaris Bank to a new owner, four years after the government took over the distressed Skye Bank, renamed it before injecting over N1 trillion of public funds to recapitalise the bank. Strategic Capital Investment Limited emerged the preferred bidder for the lender, the CBN said in a
Top commercial bank, Fidelity Bank has disclosed that it has entered into a deal to buy 100 per cent stake in the United Kingdom unit of Nigeria’s second oldest lender, Union Bank. Jkcyno news previously reported that Titan Trust acquired majority stake in Union Bank. The Central Bank of Nigeria (CBN) has issued a ‘No
The Central Bank of Nigeria (CBN) has announced an upward adjustment of the negotiable minimum interest rate payable on local currency savings deposits to 30 per cent of the Monetary Policy Rate (MPR). In September 2020, the central bank, as part of efforts to mitigate the impact of the COVID-19 pandemic, had slashed the minimum
The Central Bank of Nigeria (CBN) has said it did not direct Deposit Money Banks to seize funds in Community Associations’ Savings Accounts. There has been apprehension among members of Community Development Associations, Cooperative Societies and Social Clubs over reports that accounts held by such organizations which were not properly registered with the Corporate Affairs
The Central Bank of Nigeria CBN has said that paper currency will soon be out of circulation, urging market men and women to sign into the e-Naira. The Delta State Branch Controller of CBN, Mr Godwin Okafor, stated this on Friday at the popular Ogbogonogo market during the market sensitisation on e-Naira. He urged traders
The Ondo State Governor, Mr Rotimi Akeredolu had called on the President, Major General Muhammadu Buhari (retd.), to sack the Governor of the Central Bank, Mr Godwin Emefiele, for obtaining of All Progressives Congress presidential nomination form. This was as the Peoples Democratic Party also lambasted the CBN Governor over the issue. Akeredolu, in a