Category: Money and monetary policies

2022 Redesigned Naira Notes Printed In Nigeria – EFCC Witness Says in Court

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A witness of the Economic and Financial Crimes Commission EFCC, Ahmed Halilu has told a High Court of the Federal Capital Territory in Abuja that the re-designed Nigeria’s currency executed in 2022 was carried out in Nigeria by the Nigeria Security Printing and Minting Company (NSPM) Halilu who is the Managing Director of the Company…

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Finance and Economy, Money and monetary policies

Charges On Bulk Cash Deposit Suspended For 143 days – CBN

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The Central Bank of Nigeria (CBN) yesterday suspended previously charged processing fees on cash deposits for 143 days. According to the CBN, the suspension was with immediate effect. The CBN also stated that it was meant to curb the cash scarcity being experienced in some parts of the country and enhance financial transactions by individuals…

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Money and monetary policies

Nigerians Witnessing Naira Scarcity Again Despite The Apex Court Judgement

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About this time last year, a wave of Naira notes scarcity blew across the country having been occasioned by the ill-fated reprint of New Naira notes. Again, the scarcity of cash rears it’s head across the country as bank customers are unable to make huge withdrawals from various commercial banks. This is despite the Supreme…

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Money and monetary policies

Naira Depreciates By 16%, Closes Week At N927/$

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This week, Naira closed at N927.19/$ on the official Investor and Exporter (I&E) forex window. This marks a 16.64 per cent decline from the N794.89/$ it closed the week that ended November 24, 2023, according to data from the FMDQ Securities Exchange. Also, the turnover of dollars traded in the market improved from $75.82m to…

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Money and monetary policies