Finance

Naira redesign: National Assembly passes resolution on extension of deadline for old notes

The upper and lower chambers of the National Assembly have passed a resolution asking the Central Bank of Nigeria (CBN) to extend the deadline for the withdrawal of old naira notes from circulation.

Redesign-naira-notes Credit: Premium Times

The upper and lower chambers of the National Assembly have passed a resolution asking the Central Bank of Nigeria (CBN) to extend the deadline for the withdrawal of old naira notes from circulation.

The resolution was passed during the plenary of the senate and house of representatives on Tuesday in Abuja.

Last year, the governor of the CBN, Godwin Emefiele announced the redesign of the N200, N500 and N1000, adding that the old notes are expected to be out of circulation by January 31, 2023.

Advertisements

According to him, the naira redesign policy entails the issuance of new naira notes to replace the existing N200, N500 and N1,000 series.

After the announcement of the plan which was backed by the president, the National Assembly summoned the officials of the CBN to explain the rationale behind the naira redesign policy.

After the summons, the legislatures have been mounting pressure on the CBN governor to extend the deadline for the withdrawal of the old notes from circulation.

1 Comment

  1. porno

    March 22, 2023 at 7:41 pm

    Good article! We are linking to this particularly great post on our website.
    Keep up the great writing.

    Look at my web-site – porno

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Governance

Vice Admiral Ibok-Ete Ibas (Rtd), Rivers State's sole administrator, has appeared before the Senate ad-hoc Committee on oversight of emergency governance in the State.

Legislature

The speaker of the House of Representatives, Tajudeen Abbas, has listed the women’s reserved bill as part of the priorities for the National Assembly...

Legislature

The House of Representatives has said President Bola Tinubu will, on June 12, confer national honours on selected legislators as part of this year’s...

Finance

President Bola Tinubu has written to the national assembly seeking approval for an external loan of $21.5 billion.

Finance

Olayemi Cardoso, Governor of the Central Bank of Nigeria, says the country’s interest rate remains 27.5%.

Finance

The Central Bank of Nigeria (CBN) has collaborated with the Nigeria Inter-Bank Settlement System (NIBSS) to launch the non-resident bank verification number (NRBVN) platform...

Copyright © 2025 DailyAgent | Technocrat Innovations Plus Ltd, All Rights Reserved.

Exit mobile version