The Central Bank of Nigeria Governor, Godwin Emefiele has said the apex bank will redesign three naira notes.
He said the bank had obtained approval from President Mohammadu Buhari to redesign N200, N500, N1000 notes, adding that the new notes will come into effect by December 15.
Emefiele said:
“Bank charges for cash deposit are suspended with immediate effect.”
He further disclosed that over 80 percent of the total cash in circulation was outside the banking system.
“N2.73 trillion out of N3.23 trn exists outside the commercial bank,” he added.
He said the decision would impact the value of the naira.
CONTINUE READING…
Do you have any information you wish to share with us? Do you want us to cover your event or programme? For Adverts or reports call/WhatsApp us on +2348072633727
News Update Explosions were heard in the Haifa area in northern Israel on Saturday following…
Osun Online Publishers Association Celebrates Comrade Sodiq Lawal of Dailyimpact on His Birthday The leadership…
Edo State Governor, Monday Okpebholo, has said he will relinquish his seat if President Bola…
THE Federal Government has unveiled a partnership initiative aimed at equipping over six million Nigerian…
News Update Twenty five members of the Osun Stateosu Hpouse of Assembly have defected from…
THE Commissioner of Police in Ondo State, Adebowale Lawal, has stressed the need for religious…