More
    HomeBusinessFinance Minister Rejects CBN’s Plan to Redesign Naira

    Finance Minister Rejects CBN’s Plan to Redesign Naira

    Published on

    By Abdul lawal
     
    Nigeria’s Minister of Finance, Budget and National Planning, Zainab Ahmed, has rejected a plan by the Central Central Bank of Nigeria (CBN) to redesign naira, warning the apex bank of its consequences on the country’s troubled economy.

    Ahmed expressed her opposition to the policy in response to a question raised by Senator Opeyemi Bamidele during the 2023 budget defence session she had with  the Senate Committee on Finance.

    The Minister warned CBN of the consequences that may arise from the exercise.

    Senator Bamidele had in his question, told the Finance Minister that barely two days after announcement of the policy by CBN , repercussions of it on the value of naira to US dollar was being felt .

    Recall that the CBN Governor, Godwin Emefiele had Wednesday dropped the hint, revealing   that the incoming exercise would redesign the Nigerian currency, starting from N200 denomination to N1,000 no Finance Minister Rejects CBN’s Plan to Redesign Naira

    Latest articles

    Kogi fixes LG Election for October 19

    Olu Samuel, Lokoja The Kogi state Independent Electoral Commission, KOSIEC has fixed October 19th as...

    UAE Lifts Visa Ban on Nigerian Travelers

    By Milcah Tanimu The United Arab Emirates (UAE) has officially lifted the visa ban on...

    JAMB Cancels 2024 Aptitude Test for Direct Entry Candidates

    By Milcah Tanimu The Joint Admission and Matriculation Board (JAMB) has announced the cancellation of...

    Residents in Kaduna, Katsina, and Kano Express Concern Over Rising Street Begging

    By Milcah Tanimu Residents in the urban centers of Kaduna, Katsina, and Kano have raised...

    More like this

    Kogi fixes LG Election for October 19

    Olu Samuel, Lokoja The Kogi state Independent Electoral Commission, KOSIEC has fixed October 19th as...

    UAE Lifts Visa Ban on Nigerian Travelers

    By Milcah Tanimu The United Arab Emirates (UAE) has officially lifted the visa ban on...

    JAMB Cancels 2024 Aptitude Test for Direct Entry Candidates

    By Milcah Tanimu The Joint Admission and Matriculation Board (JAMB) has announced the cancellation of...