Tag: Naira redesign
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I did not receive MOM on Naira redesign, says ex-CBN director
A former Director of Currency Operations at the Central Bank of Nigeria (CBN), Mr Ahmed Umar, on Tuesday told a FCT High Court that the minutes of the meeting of CBN management on Naira redesign was not sent to him. Umar said this while testifying as the prosecution first witness (PW 1) in the alleged…
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Naira redesign: Nigerians lose money, disquiet over CBN’s silence on court ruling
During a recent trip from Delta State to Lagos State, Onajite Umukoro, who travelled with a popular transport line said she had to part with an extra N2, 000 because she did not have cash and opted to pay for her journey electronically. “I was told that the trip would cost N12, 000 if I…
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Naira redesign: It’s a soothing relief to all Nigerians-Adegboruwa, SAN hails SC verdict
…Buhari should immediately effect order A senior lawyer Ebun-Olu Adegboruwa, SAN has hailed the Supreme Court over its verdict on nullifying the ban on use of the old N200, N500 and N1000 banknotes. Olu-Adegboruwa reacted immediately after the court verdict declaring that the judgement is a courageous confirmation of the sanctity of the rule of…
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Just In:Supreme Court declares N200, N500, N1000 legal tender till Dec 2023
Finally, the Supreme Court, on Friday, nullified the ban on use of the old N200, N500 and N1000 banknotes as legal tenders. The apex court, in a unanimous decision by a seven-member panel of Justices, held that the old banknotes should remain valid legal tenders until December 31. It held that the old Naira notes…
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Currency in circulation has dropped to N1.38tn – CBN
Following the naira redesign, introduced by the Central Bank of Nigeria, the total amount of currency-in-circulation in the country has dropped from N3.29tn as of the end of October 2022 to N1.38tn as of the end of January 2023.
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El-Rufai clears air on why governors are against new naira
Nasir El-Rufai, Governor of Kaduna State, has explained why governors are against the naira redesign, saying it would prevent them from inducing voters during the forthcoming elections. According to El-Rufai, governors kicked against the policy as a result of the hardship it had brought upon the citizens, adding that the policy had pitched the All…
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Naira redesign: Sanwo-Olu decries extortive practice by PoS operators
Gov. Babajide Sanwo-Olu of Lagos State has expressed displeasure over the extortive practices by Point of Sale (PoS) operators, as well as petrol station attendants. Sanwo-Olu said this while addressing newsmen on the current situation caused by the
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Naira redesign: Reps panel wants intervention to cushion Nigerians’ hardship
The House of Representatives ad hoc committee on naira redesign has called for an intervention to mitigate the hardship being faced by Nigerians due to the policy. Rep. Ado Doguwa, the Chairman of the committee said this in a statement in Abuja.
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UPDATE: Naira Redesign: Six APC Govs join suit to halt ban on old notes
At the resumed hearing of the suit challenging the implementation of the naira redesign policy by Nigeria’s Central Bank of Nigeria (CBN) on Wednesday, the Supreme Court was inundated with requests from nine state governors to join the case as co-plaintiffs. TheNewsGuru.com (TNG) earlier reported that two of the three Governors who filed the suit…
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BREAKING: Naira Redesign: Supreme Court Adjourns Suit till Feb. 22
Nigeria’s Supreme Court Wednesday, failed to give ruling on the naira redesign policy suit filed by three state Governors and has adjourned hearing to Wednesday February 22 2023. TheNewsGuru.com (TNG) reports that two of the three Governors who filed the suit – Governor Nasir El-Rufai of Kaduna State and his counterpart Yahaya Bello of Kogi…