MURIC gives the FG a deadline for the old naira bills. The Muslim Rights Concern (MURIC) has requested that the Federal Government provide a two-week extension to the January 31 deadline for the devaluation of old naira notes. According to a statement released by MURIC’s Sokoto Chapter’s Malam Muhammad Aliyu on Saturday in Abuja, this … Read more
Investors lose N429.77bn in the stock market. After 13 consecutive days of gains, the Nigerian stock market ended Thursday with a loss of 1.53 percent of its market capitalization due to the selling of Airtel Africa Plc. The local market gave in to selling pressure for the first time in the 2023 trading year, marking … Read more
FG stops people from taking cash out of public accounts. The Federal Government must immediately implement a freeze on all cash withdrawals from all public accounts. After the Central Bank of Nigeria established the new Naira withdrawal rule, public personnel were instructed to use foreign and local currency accounts at their domiciles instead of making … Read more
CBN raises the amount of cash you can withdraw. The CBN, or Central Bank of Nigeria, has lifted the weekly withdrawal restrictions for individuals to N500,000 and the limits for corporations to N5 million. Prior restrictions capped weekly cash withdrawals for individuals at N100,000 and businesses at N500,000. The revised policy’s evaluated restrictions were published … Read more
CBN says that they have ordered 500 million new Naira notes. Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele has stated that 500 million pieces of the newly redesigned Naira bills were requested from the minting firm in response to public concerns that banks are not issuing enough of the new currency. Meanwhile, … Read more