Browsing: CBN

It came as a surprise when Nigerians learnt that the Central Bank of Nigeria, CBN, revealed plans to release new naira notes design different from the nation’s present currency denominations.

Nigerian House of Representatives has commenced inquisition into the forty billion dollars ($40bn) fund recovered by the Economic and Financial Crimes Commission, EFCC, and remitted to the Central Bank of Nigeria, CBN, that is not accounted for in any available record.

eNaira, which is simply Nigeria’s Digital Currency, is clearly, according to an Analyst, Fisayo Fosudo, from a platform named the VULTe, is not a Cryptocurrency but uses technology for online transactions. A company named Bitt, Inc. was commissioned to coordinate the project.

A group of agitators have called for a complete suspension of Bureau De Change, BDC business, urging the Government to involve recognized financial institutions to carry out the exchange transactions.

Still on the back and forth regarding the call for the resignation of Godwin Emefiele, Governor of the Central Bank of Nigeria, CBN, by some interests in society, a group has cautioned that politicians should exclude the bank’s boss from their political gimmicks.