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After Presidential Rebuke, Nigeria’s Central Bank Says Demonetized Naira Banknotes Still Legal Tender

The Nigerian central bank has said the recently demonetized ₦200, ₦500 and ₦1,000 banknotes will remain legal tender until Dec. 31, 2023. The central bank statement, which reaffirms a Supreme…

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Nigerian Cash Crisis: Benue State Residents Resort to Barter Trade

Faced with cash shortages caused by the central bank’s currency policies, traders in the Nigerian state of Benue have reportedly resorted to barter trading. Traders from the state have implored…

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Report: Nigerian Central Bank Spent Over $1.8 Billion Managing Local Currency

During her appearance before Nigerian lawmakers, Aisha Ahmad, the deputy governor of the Central Bank of Nigeria (CBN), told lawmakers that out of the nearly $1.8 billion used to manage…

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New Naira Banknotes to Make Monetary Policy More Effective — Nigerian Central Bank Governor

The Central Bank of Nigeria governor, Godwin Emefiele, has said the newly designed naira banknotes are set to enhance the effectiveness of the organization’s monetary policy and bolster the financial…

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Nigeria’s Central Bank Doubles Down on Plans to Introduce Newly Designed Naira Banknotes

The Nigerian central bank was, on Oct. 29, forced to defend its controversial currency redesign plans, just a few days after they were publicly questioned by Nigerian Finance Minister Zainab…

Continue ReadingNigeria’s Central Bank Doubles Down on Plans to Introduce Newly Designed Naira Banknotes