Nigeria President Bola Tinubu on Monday said the Naira redesign policy by his predecessor Muhammadu Buhari will be reviewed. Tinubu said this in his inauguration address as Nigeria's 16th president at Eagles Square, Abuja. The president noted that the Naira redesign policy implemented by the Central Bank of Nigeria (CBN) did not consider the number…

The Central Bank of Nigeria (CBN) has restored the old 200, 500 and 1000 naira notes to remain as legal tender until December 31, 2023. CBN spokesperson Isa Abdulmumin made the disclosure in a statement on Monday. “In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law…

The Presidency on Monday said President Muhammadu Buhari did not direct the Central Bank of Nigeria (CBN) to shun the Supreme Court order on the validity of naira notes. "It is therefore wide off the mark to blame the President for the current controversy over the cash scarcity, despite the Supreme Court judgement. The CBN…

Anambra State governor Chukwuma Soludo said the Central Bank of Nigeria (CBN) has directed banks to dispense old naira notes. Soludo said CBN governor Godwin Emefiele made the disclosure to him in a phone conversation on Sunday night. "Commercial banks have been directed by the Central Bank to dispense old currency notes and to also…

Supreme Court on Friday extended the validity of old naira notes till December 2023. The Supreme Court faulted the naira redesign policy by the Central Bank of Nigeria (CBN), declaring the naira notes swap implementation invalid and an affront to the 1999 Constitution. READ ALSO: Buhari orders CBN to release old ₦‎200 to coexist with…

On February 8, 2023, the Supreme Court of Nigeria made an order directing that the old Naira notes of N200, N500 and N1000 should continue to circulate alongside the new Naira notes, pending the hearing and final determination of the Motion on Notice ...

The Supreme Court on Wednesday adjourned the lawsuit by state governors against the Federal Government till Friday, March 3 over naira notes. More than five states have joined a suit by Kaduna, Zamfara and Kogi state governments against the Federal Government over the scarcity of old and new Naira notes due to the Central Bank…

The First Lady, Aisha Buhari, has denied posting a purported Central Bank of Nigeria (CBN) statement on her Instagram page for the recirculation of old 500 and 1000 naira notes. Aisha in a statement said the post was published on her social media handles after being hacked on Tuesday. CBN thereafter refuted the claim in…

The Central Bank of Nigeria (CBN) has refuted claims that it has directed commercial banks to recirculate old 500 and 1000 naira notes. Aisha Buhari, the wife of President Muhammadu Buhari, on Tuesday, posted a statement that claimed the CBN had ordered the recirculation of the old notes on her Instagram page. READ ALSO: Old…

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arrested an accountant of Oando Filling Station, Dutse Alhaji, in Abuja over alleged racketeering of the new Naira notes. Spokesperson, ICPC, Azuka Ogugua, who disclosed in a statement on Friday, said the arrest followed the continued onslaught by the Commission on some elements who…

The Presidency on Friday dismissed claims that the phasing out of old Naira notes is aimed at causing tension and introducing an interim government in Nigeria. Presidential spokesman Garba Shehu in a statement said President Muhammadu Buhari remains committed to abiding by the principles of democracy and handover to the winner of the election on…

Kaduna State governor Nasir El-Rufai has dared President Muhammadu Buhari on the naira redesign policy, saying the old notes remain legal tender in the state. Buhari in a national broadcast on Thursday declared that old 500 and 1000 naira notes were no longer valid. He had asked Nigerians to take them to the Central Bank…