Money market

Abuja, March 3, 2023 – Femi Gbajabiamila, the Speaker of House of Representatives, has commended the decision of the Supreme Court on the circulation of old notes. The Supreme Court, on Friday, reversed the order of the Federal Government restricting the old notes of N1000, N500 and N200 from circulating since Feb. 10. The court, in a judgment in a suit brought by some state governors on the naira redesign policy, ordered that the old notes should be allowed to circulate along with the new notes until Dec. 31, 2023. …

Kaduna, March, 3, 2023 – President Muhammadu Buhari has apologised to Nigerians over the hardship caused by the implementation of naira redesign programme of Federal Government. He made the apology while appealing to Kaduna residents to vote for the APC Gubernatorial Candidate in the state. Senator Uba Sani. The president, who spoke in a viral video in Hausa language on Thursday, said the naira redesign policy was not meant to cause hardship to Nigerians, but enhance the economy. “First of all, I want to once again thank you for the …

Abuja, March 3, 2023 – The Supreme Court on Friday ordered the federal Government to allow the old N1000, N200 and N500 notes to circulate until Dec. 31, 2023. It directed that the old should be allowed to circulate along with the new notes till then. In a judgment on the naira redesign policy suit filed by some states against Federal Government, the apex court held that the federal government’s decision on the circulation of the old currencies was a gross violation of human rights of Nigerians. It said it …

Lagos, Feb. 21, 2023 -The First Lady, Aisha Buhari, has denied posting the purported Central Bank of Nigeria press release, shared on her Instagram page on Tuesday, saying that it was the handiwork of hackers. In the release shared on Aisha’s page on Tuesday, it was alleged that the old N500 and N1000 notes should remain legal tender till May 1, 2023. But the First Lady has offered a disclaimer stating that the post wasn’t from her. Denying the post, the First Lady wrote: “DISCLAIMER! DISCLAIMER!! It has come to …

Lagos, Feb. 21, 2023 – The Central Bank of Nigeria (CBN) says the Federal Government has not renege on its policy decision that only N200 of the old naira notes is still legal tender and allowed to circulate until April 10. It said that the old N500 and N1000 naira notes had seized to be Nigeria’s legal tender since Feb. 10. The apex bank said that it became necessary to emphasise this in view of existence of fake news circulating that the apex bank had now allowed the old N500 …

Lagos, Feb. 21, 2023 – The Central Bank of Nigeria (CBN) says the Federal Government has not renege on its policy decision that only N200 old naira note is legal tender and allowed to circulate until April 10. It said it had not changed its decision that the old N500 and N1000 naira notes had seized to be legal tender since Feb. 10. The apex bank said that it became necessary to emphasise this in view of existence of fake news circulating that the apex bank had now allowed the …

Abuja, Feb. 20, 2023 – The National Orientation Agency (NOA) says government should have created more awareness on the naira redesign policy of the Central Bank of Nigeria (CBN) before its implementation. It said many Nigerians had wrong notion of the naira redesign policy. Dr Garba Abari, the Director-General of NOA, told journalists on Monday in Abuja said this was the feedback the agency received from its field officers who related with citizens nationwide. He said some Nigerians were of the opinion that the time allocated for the change of …