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1 https://wordpress.org/?v=6.9.4https://www.digit.info/wp-content/uploads/2024/07/cropped-61589-32x32.pngnaira demonetization – DIGIT INFO
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3232After Presidential Rebuke, Nigeria’s Central Bank Says Demonetized Naira Banknotes Still Legal Tender
https://www.digit.info/after-presidential-rebuke-nigerias-central-bank-says-demonetized-naira-banknotes-still-legal-tender/
Thu, 16 Mar 2023 11:30:31 +0000https://www.digit.info/2023/03/16/after-presidential-rebuke-nigerias-central-bank-says-demonetized-naira-banknotes-still-legal-tender/Read more]]>The Nigerian central bank has said the recently demonetized ₦200, ₦500 and ₦1,000 banknotes will remain legal tender until Dec. 31, 2023. The central bank statement, which reaffirms a Supreme Court ruling that extended the lifespan of the demonetized naira banknotes, followed a rebuke of the CBN by the outgoing Nigerian president, Muhammadu Buhari. Central […]
]]>Nigerian Banks Resume Dispensing Recently Demonetized Naira Banknotes
https://www.digit.info/nigerian-banks-resume-dispensing-recently-demonetized-naira-banknotes/
Sat, 11 Mar 2023 09:30:04 +0000https://www.digit.info/2023/03/11/nigerian-banks-resume-dispensing-recently-demonetized-naira-banknotes/Read more]]>According to local reports, Nigerian financial institutions have begun abiding by a Supreme Court ruling that invalidated the Central Bank of Nigeria (CBN)’s demonetization of the 1,000, 500 and 100-naira banknotes. According to the court, Nigerian residents will continue to use the demonetized banknotes until the end of the year. Court Criticizes Outgoing Nigerian President […]
]]>Moody’s Says Forex Shortages May Force Nigerian Central Bank to Delay Repaying Local Banks
https://www.digit.info/moodys-says-forex-shortages-may-force-nigerian-central-bank-to-delay-repaying-local-banks/
Fri, 17 Feb 2023 21:00:38 +0000https://www.digit.info/2023/02/17/moodys-says-forex-shortages-may-force-nigerian-central-bank-to-delay-repaying-local-banks/Read more]]>The persistent scarcity of foreign exchange may force the Nigerian central bank to delay repaying the $10.4 billion owed to local banks, analysts at Moody’s Investors Service have concluded. The central bank’s failure to pay its debts on time will likely force the affected financial institutions to similarly delay paying back their own forex-denominated debts. […]
]]>Nigerian President Barred From Extending Old Naira Banknote Demonetization Deadline
https://www.digit.info/nigerian-president-barred-from-extending-old-naira-banknote-demonetization-deadline/
Thu, 09 Feb 2023 07:30:14 +0000https://www.digit.info/2023/02/09/nigerian-president-barred-from-extending-old-naira-banknote-demonetization-deadline/Read more]]>With just a few days left before the old naira banknotes are demonetized on Feb. 10 as scheduled, a court in Nigeria has blocked the country’s president, Muhammadu Buhari, and the central bank governor, Godwin Emefiele, from further extending the deadline. Opponents of the central bank’s old naira demonetization plan have asked Buhari and Emefiele […]
The Nigerian central bank has said the recently demonetized ₦200, ₦500 and ₦1,000 banknotes will remain legal tender until Dec. 31, 2023. The central bank statement, which reaffirms a Supreme Court ruling that extended the lifespan of the demonetized naira banknotes, followed a rebuke of the CBN by the outgoing Nigerian president, Muhammadu Buhari. Central […]
According to local reports, Nigerian financial institutions have begun abiding by a Supreme Court ruling that invalidated the Central Bank of Nigeria (CBN)’s demonetization of the 1,000, 500 and 100-naira banknotes. According to the court, Nigerian residents will continue to use the demonetized banknotes until the end of the year. Court Criticizes Outgoing Nigerian President […]
The persistent scarcity of foreign exchange may force the Nigerian central bank to delay repaying the $10.4 billion owed to local banks, analysts at Moody’s Investors Service have concluded. The central bank’s failure to pay its debts on time will likely force the affected financial institutions to similarly delay paying back their own forex-denominated debts. […]
With just a few days left before the old naira banknotes are demonetized on Feb. 10 as scheduled, a court in Nigeria has blocked the country’s president, Muhammadu Buhari, and the central bank governor, Godwin Emefiele, from further extending the deadline. Opponents of the central bank’s old naira demonetization plan have asked Buhari and Emefiele […]