• Contact Us
  • Work with Us/ iWitness
Thursday, March 23, 2023
  • Login
  • Register
Swagenews
  • News
    • Politics
    • Naija News
    • Metro
    • ECONOMY
  • METRO PLUS
  • Sports
    • SOCCER
    • FIFA
  • Columns
  • Education
  • Gist
    • BB Naija
    • Celebrity
    • Local
  • Technology
  • Health wise
No Result
View All Result
  • News
    • Politics
    • Naija News
    • Metro
    • ECONOMY
  • METRO PLUS
  • Sports
    • SOCCER
    • FIFA
  • Columns
  • Education
  • Gist
    • BB Naija
    • Celebrity
    • Local
  • Technology
  • Health wise
No Result
View All Result
Swagenews
No Result
View All Result
Home ECONOMY

“CBN got approval from Buhari to redesign Naira notes” – says CBN

Abasifreke Dan by Abasifreke Dan
October 29, 2022
in ECONOMY
0
“CBN got approval from Buhari to redesign Naira notes” – says CBN

CBN Governor, Godwin Emefiele

0
SHARES
8
VIEWS
Share on FacebookShare on Twitter

WITH the recent opposition by the Ministry of Finance in the redesigning of the Naira notes, the Central Bank of Nigeria (CBN) has come out to announce that it followed the laws and the right processes set out for the redesigning of Naira.

It will be recalled that yesterday, the Minister of Finance, Budget and National Planning, Zainab Ahmad, had given her reservations on the plans to redesign the Nigerian currency but CBN, saying that her ministry was not consulted.

However, the CBN has this morning send in a terse statement as a response to the stands of the Finance Minister’s claims that she was not consulted when the plans were made.

Mr Osita Nwanisobi, who is the spokesman of CBN in the terse statement said he was surprised that the Minister said she was not aware, saying that the CBN had passed through the right processes in the decision.

“The Management of the CBN, in line with provisions of section 2(b), section 18(a), and section 19(a)(b) of the CBN Act 2007, had duly sought and obtained the approval of President Muhammadu Buhari in writing to redesign, produce, release and circulate new series of N200, N500, and N1,000 banknotes,” Mr Nwanisobi said.

Related News: Ministry of Finance counters redesigning of Naira notes

The CBN’s spokesman also advised Nigerians to stand in support of the plan to redesign the currency, noting that the project is done based on the overall interest of Nigeria and will help to curtail hoarding of banknotes outside commercial banks.

Mr Nwanisobi also added that the Central Bank had even delayed in the redesigning of the Naira notes for twenty years, which is far away from the standard practice of redesigning and circulating new Naira notes after the interval of eight to give years.

Tags: CBNRedesigning Naira notes
Previous Post

Ministry of Finance counters redesigning of Naira notes by CBN

Next Post

25-year-old Okon sentenced to jail for stealing from UNIUYO students

Next Post
25-year-old Okon sentenced to jail for stealing from UNIUYO students

25-year-old Okon sentenced to jail for stealing from UNIUYO students

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Contact Us
  • Work with Us/ iWitness

© 2023 Swage News - Bringing you up-to date and verified information from around the World

No Result
View All Result
  • News
  • Metro Plus
  • More
    • Columns
    • Education
    • Healthwise
    • Naija News
    • WORLD NEWS

© 2023 Swage News - Bringing you up-to date and verified information from around the World

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In