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
The Lagos State Traffic Management Authority says 69 people died on roads across the state…
The death of two-year-old Winnie Akakue at Wisdom Gate International School, Eligbolo, Rivers State, has…
News Update As the Nigerian National Petroleum Company Limited continues its search for technical partners…
Ibadan Declaration: APC, PDP Fight Dirty Over Opposition, Makinde's 2027 Stand The presidency has said…
News Update The INEC has announced vacancies and recruitment portal opening for registration of eligible…
THE Osun State chapter of the All Progressives Congress, APC, has said it would adopt…