• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Emefiele replies Kano State Governor, says he doesn’t understand connection between cash swap and security issue

Chike Olisah by Chike Olisah
January 29, 2023
in Business News
Godwin Emefiele, DSS, CBN

Image Credit: The Guardian Nigeria

Share on FacebookShare on TwitterShare on Linkedin

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said that he does not understand the connection between the apex bank’s cash swap policy and the security issue being raised by the Kano State Governor, Abdullahi Ganduje.

This appears to be a reaction to the statement by Ganduje where he asked President Muhammadu Buhari to postpone his planned visit to Kano State due to security concerns over the currency swap and hardship caused by the naira redesign.

This was made known on Sunday by Emefiele during a chat with journalists after a meeting with President Buhari in Daura, where he went to seek his approval for the CBN to extend the deadline for swapping of old naira notes with the redesigned notes from January 31, 2023, to February 10, 2023.

RelatedStories

President Tinubu to remove bottlenecks hindering livestock production export between Nigeria and Brazil  

President Tinubu to remove bottlenecks hindering livestock production export between Nigeria and Brazil  

July 6, 2025
Top MD/CEOs of Asset Management Companies in Nigeria 

Top MD/CEOs of Asset Management Companies in Nigeria 

July 6, 2025

Emefiele, who said that he did not want to join issues with the Kano State Governor, noted that he wants to remain focused on his assignment.

What the CBN Government is saying

  • Emefiele during the media chat said, ‘’Truthfully speaking, I think the Kano State Governor is a respected elder statesman in the country and I would not want to join issues with him. I am saying that we want to remain focused on our assignment.
  • ‘’Like I said earlier, in Nigeria we have 1.4 million super agents touch points all over the country, in our various local governments, in our villages, people who are selling sweets, people who are selling kola nuts, people who are selling even foods in their kiosks, in their shops, they have points from where you can easily do cash in and cash out services.
  • ‘’However, what we have done under this exercise, we have targeted 30,000 super agents out of these 1.5 million people in our various areas where we know that these areas are really unbanked or underbanked and our designated CBN staff collect the cash, follow the agents and they go to those villages and they are exchanging new notes for the old notes and we give a limit of 10,000.
  • ‘’The reports I have received is that in fact most people have less than 10,000, there are only very few that have more than 10,000, maybe 15 or 20,000 and we have told the directors to use their discretion to grant those very few.
  • ‘’So I don’t understand the relationship between our own cash swap which is our own job, which is our mandate, and the security issue being espoused by the Kano State Governor. So that is why I said I don’t want to be joined in any argument with him, I want to remain focused on our mandate and assignment.’’

In case you missed it

  • Recall that yesterday, Governor Ganduje, in a letter to President Buhari, asked him to postpone his planned visit to Kano state due to security concerns and complaints from locals about the difficulty in obtaining the new naira notes.
  • Buhari was scheduled to visit the state on January 30 and 31 to commission some projects executed by the Ganduje administration.
  • The governor was quoted as saying lawmakers from the state, political stakeholders and the business community agree with the decision to postpone the planned visit.
  • Ganduje also called for an extension of the deadline for returning old naira notes.
  • Meanwhile, the CBN, today (January 29, 2023) announced the extension of the deadline for replacing old naira notes from January 31st, 2023, to February 10, 2023, after approval by President Buhari.

Follow us for Breaking News and Market Intelligence.
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

Related Posts

President Tinubu to remove bottlenecks hindering livestock production export between Nigeria and Brazil  
Agriculture

President Tinubu to remove bottlenecks hindering livestock production export between Nigeria and Brazil  

July 6, 2025
Top MD/CEOs of Asset Management Companies in Nigeria 
Equities

Top MD/CEOs of Asset Management Companies in Nigeria 

July 6, 2025
President Tinubu appoints Ibrahim Gaga as new Executive Director of NEXIM Bank  
Business News

Nigeria Immigration opens visa amnesty for foreigners with expired documents, sets September 30 deadline 

July 6, 2025
FG inaugurates 25-member committee to establish Nigerian Education Data Initiative 
Education

FG partners Amazon Web Services to provide free digital skills training in Nigerian tertiary institutions 

July 6, 2025
Equities

Nigeria’s top 10 stockbrokers by value of transactions in second quarter 2025 

July 5, 2025
Champion Breweries Plc
Equities

Champion Breweries shares up 246.46% — How other beer companies are performing in 2025 

July 5, 2025
Next Post
Airports, Mr. Chris Aligbe

Again, Screening Machine Breaks Down At MMA2, Slows Down Passengers Processing

Comments 4

  1. Gab Fahm says:
    January 29, 2023 at 7:14 pm

    Sure by your training as a banker you are not expected to know. But we expected your advisers to tell you Emiefele that the people are on edge because if your unpopular policies. So a visit by Mr President to Kano would be resented by the people and the president night even embarrassed. Obviously, one expect the security report to confirm this deep rooted annoyance from the pain of the policies of the Buhari administration

    Reply
  2. b jz says:
    January 29, 2023 at 10:09 pm

    hmmm you comment of paint. there is no paint oh that is what they chose

    Reply
  3. Alameen says:
    January 29, 2023 at 10:32 pm

    Surely you will never understand, not buhari even you come to kano and have a social gathering you will understand….

    Reply
  4. Danjuma Samaila says:
    January 30, 2023 at 6:27 am

    I can only say thank God Emefiele did not contest for the presidency. If he cannot see the correlation between the currency change and insecurity then he’s absolutely not prepared for leadership.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • President Tinubu to remove bottlenecks hindering livestock production export between Nigeria and Brazil  
  • Top MD/CEOs of Asset Management Companies in Nigeria 
  • Nigeria Immigration opens visa amnesty for foreigners with expired documents, sets September 30 deadline 

Follow us on social media:

Recent News

President Tinubu to remove bottlenecks hindering livestock production export between Nigeria and Brazil  

President Tinubu to remove bottlenecks hindering livestock production export between Nigeria and Brazil  

July 6, 2025
Top MD/CEOs of Asset Management Companies in Nigeria 

Top MD/CEOs of Asset Management Companies in Nigeria 

July 6, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics