Central Bank Of Nigeria Rides Opposition Waves In Naira Redesign Policy Push

Central Bank Of Nigeria Rides Opposition Waves In Naira Redesign Policy Push

Author: Africa Business Radio November 4, 2022 Duration: 33:14
The Central Bank Of Nigeria is not going back on its decision to withdraw, redesign and reissue the higher denominations of naira banknotes despite a welter of opposition that has greeted the policy move.
Last week Wednesday, the CBN announced that it has secured President Muhammadu Buhari’s approval to redesign the N200, N500, and N1,000 paper currencies and that the new notes would be in circulation effective December 15, 2022.
Godwin Emefiele, CBN governor, who made the announcement, noted that the decision, which is in line with sections 19, subsections a and b of the CBN Act 2007, was taken in order to control the currency in circulation, curb counterfeit notes, and check ransom payment to terrorists and kidnappers.

Tune into News Express from Africa Business Radio for a clear-eyed look at the forces shaping Nigeria's economy. This isn't just headline scanning; it's a dedicated exploration of the financial sector and markets, delivered with a focus you won't find elsewhere. We go beyond the surface noise of daily news to provide context and analysis, yet avoid the narrow jargon that can make trade publications inaccessible. Each episode distills the essential conversations happening right now in boardrooms and on trading floors. You'll hear informed discussions pinpointing what matters for pivotal areas like Investment Banking, Trading, Technology, and Fund Management, while also tracking movements in Alternatives, Commodities, and major Companies. For anyone with a stake in the region's business landscape, this podcast serves as a vital briefing, connecting the dots between sectors to offer a comprehensive, nuanced picture. News Express is your source for understanding not just what is happening, but why it matters for the future of African commerce.
Author: Language: English Episodes: 100

News Express
Podcast Episodes
African Banks Maintain Resilience amid Difficulty [not-audio_url] [/not-audio_url]

Duration: 29:09
A new report by the European Investment Bank (EIB) based on a 2023 survey of Banking in Africa has found that banks on the continent have continued to show resilience despite operating in what the EIB described as “ a di…
High-Interest Rate Causing Debt Distress in Emerging Economies  [not-audio_url] [/not-audio_url]

Duration: 30:31
The Combination Of Aggressive interest-rate hikes in developed countries, lack of sufficient affordable capital from the World Bank and a failure to consider and address the spillover effects are creating costly spillbac…
IMF Expert Sees Lifeline for CBN’s E-naira in Mobile Money  [not-audio_url] [/not-audio_url]

Duration: 27:37
An expert in the Africa department of the International Monetary Fund has expressed optimism for the future success of Nigeria's e-Naira, Africa's first central bank digital currency and the world's second.Despite its un…