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 CBN Governor, Godwin Emefiele says the issuance of new Naira banknotes, 20 years after last redesign exercise, will commence December 15, 2022. CBN says new and existing currencies shall remain legal tender and circulate together until January 31, 2023 when the existing currencies shall cease to be legal tender. CBN frowns at high rates of counterfeiting of N500 and N1,000 banknotes. CBN says Bank seeks to mop up about N3.32 trillion outside the banks’ vaults to take control of money supply in Nigeria. “The integrity of a local legal tender, the efficiency of its supply, as well as its efficacy in the conduct of monetary policy are some of the hallmarks of a great Central Bank,” – Emefiele CBN faults hoarding of banknotes by members of the public; says over 80 percent of currency in circulation are outside the vaults of commercial banks. CBN directs all Deposit Money Banks currently holding the existing denominations of the currency to begin returning these notes to the CBN immedi...

The Central Bank of Nigeria has announced that the N200, N500 and N1,000 Naira notes would be re-designed and circulated in December.  The CBN Governor made this announcement on Wednesday, during a press briefing in Abuja. Some Nigerians on Twitter reacted to this new development with most of them saying the Naira notes re-design shouldn't be the priority for Nigeria. A popular tweep, Daniel Regha, tweeted, “CBN doesn't need to re-design N200, N500 & N1,000 notes, that's a misplaced priority. Naira is literally worthless at this point, the CBN should be looking for how to increase its value, not redesign the notes. This present govt keeps fai!ing Nigerians but some people don't learn.” “In the face of flood threatening some parts of the country and in a time of inflation, CBN is set to re-design N200, N500 and N1,000 notes.” Tola tweeted.  Adepoju Samuel asked, “Is this our priority now? CBN to redesign N200, N500 and N1,000 notes." CBN knowing fully well that ...

    Peggy Ovire & Frederick Leonard Are Engaged! Peggy Ovire  is engaged! Her fiance, Nollywood actor and “ Grey ” co-star  Frederick Leonard , chose to propose to the gorgeous lady on her birthday this past Saturday. She announced the exciting news on Instagram with the caption; You were First My Best Friend, You Always Said “Peggy I’ll Make You a Happy Woman” Keep praying for me. I’ll give you the finest things in life. I”ll Love You Right, Everyday you come through & Yesterday You gave me a shocker Again lol I have Watched You Grow, Blossom & keep to those Promises. It’s not been a Rosy Road, This Man Right here! For the First Time I don’t know what to Say to you , But thank you for Loving this Stubborn girl Hopelessly. May God’s Favor Never depart from your life, May God make his light to shine on you, May good health, Prosperity, Long life be yours IJN .Amen My Husband, The Crown On My Head @freddieleonard Cheers to Forever