Reps, CBN disagree over validity of old naira notes
The House of Representatives and the Central Bank of Nigeria, CBN, yesterday, disagreed on the deadline for the validity of old naira notes.
Wike backs Supreme Court December deadline for old naira notes
“So, if you still have the old money, use it. The highest court of the land has said so. “Too bad for the Central Bank. He has no choice. There is no other directive that can override the judgement of the Supreme Court.”
Supreme Court faults Buhari on Naira redesign without notifying govs
The Supreme Court held that notice was not given the states as required under section 20(3) of the CBN Act, before the old Naira notes were withdrawn.
Naira Crisis: You’re wrong, we’ve power to hear case, S’Court tells FG
Supreme Court, on Friday, dismissed the preliminary objection the Federal Government filed to challenge its jurisdiction to hear the suit that 16 states filed to challenge the ban on use of old N200, N500 and N1000 banknotes as legal tenders in the country.
CBN denies receiving presidential orders to reissue old Naira notes
The Central Bank of Nigeria (CBN) has denied receiving presidential orders to reissue the old N200, N500 and N1000 naira notes.
Naira redesign mops up N1.8trn from currency outside banks
The implementation of the Naira redesign and withdrawal of old banknotes by the Central Bank of Nigeria, CBN, has sucked in about N1.81 trillion from the Currency Outside Banks, CoB, while crashing Currency-in-Circulation to N1.4 trillion in January 2023.
