Naira Redesign

Cash Scarcity: CBN Clears Air on Validity of Old ₦1000, ₦500, ₦200 Notes

Dec 14, 2024. by Ekohot Editor

The Central Bank of Nigeria (CBN) has clarified that all naira banknotes, including the old and new designs of the ₦1000, ₦500, and ₦200 denominations, as well as the commemorative and previous designs of the ₦100 note, remain valid legal tender indefinitely, with no set deadline. EKO HOT BLOG reports that In a statement signed … Read more

Emefiele Recommended Naira Redesign to Buhari Without CBN Board Approval – Witness Testifies

Nov 15, 2024. by Ekohot Editor

Former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Obiora, testified that the bank’s board did not recommend the 2022 naira redesign to then-President Muhammadu Buhari. Obiora, who once served as Special Adviser on Economic Matters to former CBN Governor Godwin Emefiele, stated that the board first learned of the redesign policy on … Read more

Naira Redesign: Court Approves Overseas Witnesses to Testify via Video in Emefiele Trial

Oct 18, 2024. by Ekohot Editor

Justice Mary Anenih of the High Court of the Federal Capital Territory has instructed the Economic and Financial Crimes Commission (EFCC) to present two witnesses virtually in the trial of former Central Bank Governor Godwin Emefiele. In a ruling on Friday, Justice Anenih approved the EFCC’s application, allowing the agency to field witnesses who are … Read more

Buhari Approved Naira Redesign Policy Himself – Emefiele Reveals

Dec 25, 2023. by Praise Ben

EKO HOT BLOG reports that the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said former President Muhammadu Buhari approved the Naira redesign programme. Emefiele stated this in a statement on Sunday titled, “Re; Emefiele, other stole billions, illegally kept Nigeria’s funds in foreign banks” in response to the publication of the … Read more

CBN Issues New Directive To Banks, Nigerians On Old, New Naira Notes

Nov 30, 2023. by Ekohot Editor

Eko Hot Blog reports that the Central Bank of Nigeria, CBN, has issued a fresh directive to all banks and Nigerians regarding accepting old and redesigned Naira notes. CBN issued the directive on Wednesday in a statement by its Acting Director of Corporate Communications, Mrs Sidi Hakama. The bank emphasised that all bank notes, including … Read more

[BREAKING] Nigeria’s Economic Pulse Wavers: First Quarter Records 2.31% Amid Cash Crunch

May 24, 2023.May 24, 2023. by Praise Ben

Nigeria’s GDP growth has declined to 2.31% in Q1 2023 from 3.52% in Q4 2022. The decrease is attributed to the adverse effects of the cash crunch experienced during the quarter. This aligns with KPMG’s earlier projection of slower GDP growth for 2023 due to naira redesign and political transition challenges. EKO HOT BLOG reports … Read more

‘Reverse The Naira Policy Now, Or Face Divine Hammer From Above’ – Fr. Mbaka Tells Buhari

Mar 13, 2023.Mar 13, 2023. by Praise Ben

Fr Mbaka has reacted to the Naira policy and its recent development. The cleric asked Buhari to reverse the policy or face God’s wrath. Mbaka also stated that the people may rise against the government if an urgent step is not taken. EKO HOT BLOG reports that the Spiritual Director of Adoration Ministry Enugu (AMEN), … Read more

MBF Comes Down Hard: Buhari To Be Remembered As Nigeria’s Most Disastrous President

Mar 13, 2023.Mar 13, 2023. by Praise Ben

The MBF has stated that Buhari will end up as the worst President in Nigeria’s history. The MBF tackled the President on the harm the Naira Redesign has caused Nigerians. According to the group, some Nigerians are unable to travel because of the Naira scarcity. EKO HOT BLOG reports that the Middle Belt Forum (MBF) … Read more

Naira Crisis: NASS Told To Sack Buhari Immediately

Mar 11, 2023. by Otunba T.J Abass

The National Assembly has been told to impeach President Buhari. The call is coming following Buhari’s refusal to obey the Supreme Court judgment on the Naira redesign. The group also called for the management and heads of all the banks in the country to be prosecuted. EKO HOT BLOG reports that the Southern Nigeria Peoples … Read more

Emefiele Will Be A Zebra In Hands Of Tigers – Shehu Sani Voices Concern

Mar 5, 2023. by Ekohot Editor

Former Kaduna State senator, Shehu Sani has voiced concerns over the future of Central Bank of Nigeria’s governor, Godwin Emefiele after the naira redesign policy. The Naira redesign and cashless policy has been something was largely criticized by the Nigerian elites. This thus raises the question of what happens if President Muhammadu Buhari’s administration reaches … Read more

Naira Redesign Policy: ‘Supreme Court Ruling Must Be Respected’ – APC Chieftain Tells Buhari

Mar 4, 2023.Mar 4, 2023. by Praise Ben

A APC chieftain has called on Buhari to uphold the Supreme Court ruling on the naira redesign policy. The Supreme Court lifted the ban on old notes and set a new deadline. The Chieftain advised the president to ensure the old note go back into circulation. EKO HOT BLOG reports that a chieftain of the … Read more

Supreme Court Ruling On Naira Policy: CBN Awaits Legal Advice

Mar 4, 2023. by Otunba T.J Abass

The CBN is awaiting legal advice concerning the Supreme Court ruling. The apex court in its ruling declared the naira redesign policy was an affront to the 1999 Constitution of the country. The court also directed CBN to keep the old N200, N500, and N1,000 notes in circulation till December 31, 2023. EKO HOT BLOG … Read more

What’s With The Desperation? – Peter Okoye On Political Uproar Over Cashless Policy

Feb 21, 2023.Feb 21, 2023. by Ekohot Editor

Peter Okoye Points Fingers At Lagos Police On 'Being Mute' In Key Issues

Peter Okoye comes at full rant over politicians for their stance against the Naira redesign and cashless policy. According to the outspoken celebrity, Nigerians are not the ones complaining about the policy but the politicians driving the narrative of hardship due to the naira. Peter Okoye states there was hardship even before the redesign and … Read more

Naira Swap: 2023 Elections Under Threat As CBN Fails To Disburse Funds To INEC, Security Agencies

Feb 20, 2023.Feb 19, 2023. by Otunba T.J Abass

The 2023 elections are under threat following CBN’s failure to disburse funds to INEC and Security Agencies. This has raised serious concerns that the upcoming February 25th elections may not hold. The situation is complicated by the CBN’s Naira redesign policy. EKO HOT BLOG reports that with just a week to the 2023 general elections, … Read more

Naira Crisis Sparks Riot In Ogun Communities [PHOTO]

Feb 18, 2023.Feb 17, 2023. by Otunba T.J Abass

Riots have spread to Ogun communities as naira woes worsen. The protesters barricaded the Mowe end of the Lagos-Ibadan Expressway and turned back motorists and travellers. The protesters reportedly resisted police intervention and threatened to set the police station in the area ablaze. EKO HOT BLOG reports that riots on Friday spread to Ogun communities … Read more

JUST IN: Buhari Extends Validity Of Old N200 Notes

Feb 16, 2023. by Otunba T.J Abass

Buhari has extended the validity of the old 200 Naira notes. Buhari made this known on Thursday morning during his nationwide broadcast. The president said all existing old N1000 and N500 notes remain redeemable at the Central Bank of Nigeria (CBN). EKO HOT BLOG reports that President Muhammadu Buhari has announced the extension of the … Read more

Naira Crisis: Angry Mob Sets Access, Union, First Bank Ablaze In Delta [PHOTOS]

Feb 15, 2023.Feb 15, 2023. by Otunba T.J Abass

An angry mob has reportedly burned down Access Bank, Union Bank, and First Bank in Delta.
The protest started peacefully on the streets of Udu before it turned violent.
Also, in Oyo and Osun, there have been violent protests over the scarcity of fuel and the new naira notes.

EKO HOT BLOG reports that Some hoodlums who joined protesters on Wednesday set ablaze Union, Access Bank, and First Bank branches in Udu area of Warri, Delta State.

The protest against the scarcity of the new Naira notes began on the streets of Udu before it turned violent, resulting in the burning of buildings by some hoodlums.

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In the South-west states of Oyo and Osun, there have also been violent protests over the scarcity of fuel and the new naira notes.

On Wednesday, Governor Samuel Ortom of Benue State asked the Federal Government to review its Naira policy “before the situation gets out of hand.”

Naira Swap: CBN Drops Fresh Hint On Naira Deadline, Scarcity

Feb 15, 2023.Feb 14, 2023. by Otunba T.J Abass

The CBN dropped a fresh hint on the Naira deadline and scarcity. Emefiele said the February 10 deadline is “non-negotiable.” The CBN governor stated this on Tuesday while briefing the diplomatic community at the ministry of foreign affairs in Abuja. EKO HOT BLOG reports The Central Bank of Nigeria (CBN) has insisted that its February … Read more

Naira Redesign: Another Governor Drags Buhari Govt, CBN To Court

Feb 11, 2023.Feb 11, 2023. by Praise Ben

Buhari’s government has again been taken to court over the Naira redesign.
The Niger state government filed the case on February 10th against the Federal Government.
The state gov expressed concern over the hardship citizens are experiencing due to the new policy.

EKO HOT BLOG reports that the Niger State Government has dragged the Muhammadu Buhari-led Federal Government to the Supreme Court over the naira redesign policy introduced by the Godwin Emefiele-led Central Bank of Nigeria (CBN).

This was made known in a statement on Saturday by Nasara Danmallam, the Niger State Attorney General and Commissioner for Justice, in Minna, the State capital.

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He disclosed that the case, with suit number SC/CV/210/2023, was filed on February 10, with the Niger State Government as the plaintiff.

According to Danmallam, the state government was seeking an extension of the timeframe given by the CBN for the currency swap and withdrawal from circulation of old N200, N500, and N1,000, amongst other reliefs.

He noted that the three months given by the federal government for the withdrawal of old currency across the country was not reasonable and in violation of sections 13, 14 (2) (b), 17 (1) (c) of the 1999 Constitution as amended.

In the affidavit in support of the originating summons, filed at the Supreme Court, the Niger government contended that the unavailability of the newly redesigned notes had caused untold hardships and sufferings on the inhabitants of the state, especially those living in rural dwellers across the state.

‘It Would Eliminate Corruption, Vote Buying’ – Secondus Hails Buhari On Naira Redesign

Feb 11, 2023.Feb 11, 2023. by Praise Ben

Secondus has hailed Buhari on the Naira redesign. Secondus acknowledged the approach would eradicate corruption from the nation. According to the former PDP Chairman, the policy will help banks trace transactions across accounts. EKO HOT BLOG reports that the former National Chairman of the opposition Peoples Democratic Party (PDP), Prince Uche Secondus, has hailed President … Read more

An angry mob has reportedly burned down Access Bank, Union Bank, and First Bank in Delta.

The protest started peacefully on the streets of Udu before it turned violent.

Also, in Oyo and Osun, there have been violent protests over the scarcity of fuel and the new naira notes.

EDITOR’S PICKS

FURTHER READING

Buhari’s government has again been taken to court over the Naira redesign.

The Niger state government filed the case on February 10th against the Federal Government.

The state gov expressed concern over the hardship citizens are experiencing due to the new policy.

EDITOR’S PICKS

FURTHER READING