AbaCityBlog
Wednesday, March 29, 2023
  • Login
  • HOME
  • NEWS
  • CRIME
  • #OFFBEAT
  • PEOPLE
  • SOUTH EAST ZONE
    • Abia State
    • Anambra State
    • Enugu State
    • Ebonyi State
    • Imo State
  • GUEST POST
  • SPONSORED
  • ADVERTISE
No Result
View All Result
  • HOME
  • NEWS
  • CRIME
  • #OFFBEAT
  • PEOPLE
  • SOUTH EAST ZONE
    • Abia State
    • Anambra State
    • Enugu State
    • Ebonyi State
    • Imo State
  • GUEST POST
  • SPONSORED
  • ADVERTISE
No Result
View All Result
AbaCityBlog
No Result
View All Result
Home Nigeria News

BREAKING: CBN Speaks On Deadline For Old Naira Notes Days After Supreme Court Ruling

February 14, 2023
in Nigeria News
230
SHARES
1k
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said the February 10 deadline on old naira notes stands contrary to the supreme ruling.

Emefiele made the disclosure while briefing the diplomatic community at the Ministry of Foreign Affairs in Abuja on Tuesday.

CBN Governor, Godwin Emefiele
CBN Governor, Godwin Emefiele

“The situation is substantially calming down since the commencement of over-the-counter payments to complement ATM disbursements and the use of super-agents. There is, therefore, no need to consider any shift from the deadline of February 12,” he said.

The clarification is coming following confusion over the supreme court order which extended the deadline to February 15, pending the hearing by the court.

Speaking further on the cause of the scarcity of the new Naira Notes, Emefiele said, “Some of our leaders are buying the new notes and storing them for whatever purpose and I will not expand further on that.”

The apex bank governor, however, said they acknowledged the suffering of Nigerians, noting that effective implementation of the policy could scrap 4% of the inflation numbers.

Emefiele further explained that the optimal volume of cash in circulation should be around N700billion.

He said: “Even if we say N1trillion should be in circulation, we cannot refloat N3.7trillion into circulation.”


Tags: CBNGodwin EmefieleOld Naira Notes
Share92Tweet58Send

Related Posts

Coronavirus: Gov Wike bans Vehicular movements in an out of Rivers state

Governor Wike Speaks on EFCC Invitation, Says He’s not afraid

by Ngozi Blessed
March 27, 2023
0

Rivers State Governor, Nyesom Wike has said he would honour the invitation of the Economic and Financial Crimes Commission (EFCC)...

Senate grants 2nd reading to Sen. Orji Kalu's Taxpayers protection Bill 

Orji Uzor Kalu’s Declaration For Senate President based on Igbo, National Interest

by Ngozi Blessed
March 22, 2023
0

By Comrade Bello Osaretin As the race for the Senate president heats up and the speculation of zoning the coveted...

Peter Obi

JUST IN: Peter Obi officially petitions Presidential Election Tribunal

by Ngozi Blessed
March 21, 2023
0

The Presidential Candidate of the Labour Party, Mr. Peter Obi has formally submitted a petition challenging the process leading to...

Atiku Reveals Only Way He Will Tackle IPOB’s Biafra Agitation when elected as President

Atiku, PDP withdraw fresh suit to access, inspect INEC election materials

by Ngozi Blessed
March 15, 2023
0

The Presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar and his party on Wednesday withdrew a fresh...

Why Presidential Election May Be Canceled, INEC Chairman May Go To Jail If He Announces False Results

Group calls on EFCC, ICPC to investigate Prof Yakubu Mahmood over how he spent INEC’s N400bn on polls

by Justice Okoro
March 14, 2023
0

Says Yakubu should explain how INEC spent over N400bn on polls Calls on EFCC, ICPC to investigate INEC boss The...

Next Post
Gourmet Coffee: What Are The Different Types Of Coffees?

Gourmet Coffee: What Are The Different Types Of Coffees?

Ikpeazu visits Ariaria International Market Aba, assures traders of continued govt support

Gov Ikpeazu directs suspension of all taxes in markets in Abia State

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

External links

HERO

abacityblog.com

Healthy & safe

Checked by Sur.ly

2023

POPULAR POST

  • VIDEO: Nigerian Man Displays Hard Copy of Tinubu’s Alleged Drug Case From US Court

    VIDEO: Nigerian Man Displays Hard Copy of Tinubu’s Alleged Drug Case From US Court

    861 shares
    Share 344 Tweet 215
  • Billionaire Prophet Fufeyin apologises to God, members for disobedience to obey God instructions to build His Church

    399 shares
    Share 160 Tweet 100
  • BREAKING: PDP suspends National Chairman, Iyorchia Ayu with immediate effect

    293 shares
    Share 117 Tweet 73
  • HouseAfrica Unveil Fraud Proof Land & Real Estate Transactions Tool

    114 shares
    Share 46 Tweet 29
  • Peter Obi’s Supporter, Chude narrates ordeal in the hands of Security agents, says he was treated like a common Criminal

    105 shares
    Share 42 Tweet 26

RECOMMENDED

  • All
  • Scholarships
TVS Sport

TVS Sport: A Complete Review of the Commuter Bike

March 28, 2023
breakfasts

What are some Quick and easy breakfasts recipes for Winter Season?

March 27, 2023
TVS Radeon Mileage

TVS Radeon Mileage: Get the Best Fuel Efficiency with This Commuter Bike

March 27, 2023
Hero Bike Price: Exploring the Latest Models and Their Features

Hero Bike Price: Exploring the Latest Models and Their Features

March 27, 2023
HouseAfrica Unveil Fraud Proof Land & Real Estate Transactions Tool

HouseAfrica Unveil Fraud Proof Land & Real Estate Transactions Tool

March 26, 2023
Load More
  • About us
  • Advertise
  • Contact us
  • Privacy Policy
Call us: +2347038111972

© 2023 Abacity Blog Media

No Result
View All Result
  • Home
  • Contact us
  • Advertise
  • Aba News
  • #OffBeat

© 2023 Abacity Blog Media

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In