Money market

Abuja, Nov. 23, 2022 – President Muhammadu Buhari today unveiled the new naira notes as proposed by the Central Bank of Nigeria. He unveiled the new currency notes  at the Federal Executive Council (FEC) meeting at the State House, Abuja. The central bank announced that it would redesign the naira notes in order to control the amount of currency in circulation, manage inflation and combat counterfeiting. “These challenges primarily include significant hoarding of banknotes by members of the public with statistics showing that over 85 percent of currency in circulation …