Tag
NAIRA NOTES
The Governor of Anambra State, Professor Chukwuma Soludo, has said that the Central Bank of Nigeria (CBN) has finally directed commercial banks to dispense the old N200, N500, and N1,000 notes as well as receive the same deposits from customers.
CBN has revealed it did not authorize Banks to collect old N500 and N1000 notes. This was disclosed in a statement viewed by Nairametrics
Professor Sam Amadi said the Supreme Court lacks the jurisdiction to rule on such a matter, and may have overstepped its bounds
The latest policy of the central bank will likely affect the 2023 elections, corrupt money, money laundering, and the exchange rate.
Some of the experts who spoke to Nairametrics said the move was unnecessary
New naira notes to start circulating from December 15, 2022
The CBN has challenged a suit before the Federal High Court in Lagos seeking to remove the Arabic inscriptions on naira notes.
The National Leader of the ruling All Progressive Congress (APC), Bola Ahmed Tinubu, has urged the Federal Government to print more naira notes to save the economy from total collapse due to the adverse effect of the coronavirus pandemic
he Central Bank of Nigeria (CBN) has introduced the clean note policy, aimed at putting an end to the circulation of mutilated, defaced, and unfit notes.
In recent times there has been a noticeable increase in the volume of tattered Naira notes.