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Business

At nearly N3tr, currency in circulation nears pre-naira redesign level

The currency-in-circulation (CIC) has reached a new high of N2.99 trillion by October 31, 2023, inching closer to the level it was before the...

Business

CBN’s Naira Redesign Policy Cuts Nigeria’s GDP Growth Rate To 2.31% In Q1

Nigeria’s economy has declined by 2.31 per cent in the first quarter of 2023, according to the National Bureau of Statistics (NBS).The NBS disclosed...

News

Lawyers, banker explain impact of S’Court ruling, to have no impact on Naira scarcity

On Wednesday, the Supreme Court ruled to temporarily suspend the February 10, 2023 deadline to phase out the old Naira notes.The ruling was in...

Business

Banks run out of redesigned naira notes, as phase out date nears

As the new naira notes went into circulation on Thursday, Nigerian banks are struggling to provide it in abundance as demands overshoot supply in...

Business

Naira Redesign Will Reduce Cash Management Cost, Says CBN

The Central Bank of Nigeria (CBN) has disclosed that the redesigned naira notes are targeted to reduce the cost of cash management in Nigeria.The...

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