'We had limited time', CBN explains why new naira notes are 'simple'
The bank says it will not introduce a higher note than N1000.
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The bank says it will not introduce a higher note than N1000.
The Central Bank of Nigeria (CBN) says it has no plan to introduce N5,000 denominated bank note as being speculated by some sections of the society.
The Central Bank of Nigeria (CBN) said there's no plan to introduce N5,000 denominated bank note following the naira redesign. Ahmed Umar, CBN Director of
The Central Bank of Nigeria (CBN) is set to begin the distribution of the new naira notes to its branches nationwide. This was disclosed by its Director of Currency Operations, Mr. Bello Umar, in Abuja, on Wednesday during the Post-Monetary Policy Committee press briefing. “From Thursday, that is tomorrow, we will start distribution to CBN branches across the country. So that whenever we are set to launch, maybe at a later date, we already have the notes across the country," Vanguard quoted him as saying.
The current face-off between the Central Bank of Nigeria (CBN) and the Federal Ministry of Finance has received a lot of reactions from economic and