In a recent interactive section with the House of Representatives Committee on Banking and Currency, the Governor of the Central Bank, Lamido Sanusi, noted that if the plan to redesign naira notes last year was successful, “it would have made it impossible for counterfeiters to cook”. He further noted that best practice currency management is that “Within a period of 5 – 8 years, you redesign the currency, after which counterfeiters tend to catch up with you”.

GOVERNOR of the Central Bank of Nigeria, CBN Mallam Sanusi Lamido Sanusi has said there is need to re-visit the re-designing of the Naira to shore up the Nigerian econom

More facts emerged, yesterday, that the Economic and Financial Crimes Commission, EFCC, may have allegedly tampered with the N2 trillion seized assets and money recovered by the commission.

The Naira depreciated by 98 kobo at the interbank foreign exchange market and by one kobo at the official market in spite of $500 million sale by Central Bank of Nigeria.