ABCON says the CBN’s naira redesign policy has fuelled the currency’s stability at the parallel market.
SMBLF has told President Muhammadu Buhari to sack SSS director-general Yusuf Bichi for hounding CBN governor Godwin Emefiele with secret agents.
The newly-recoloured N1,000, N500 and N200 bills became legal tender on December 15. Yet, some traders still find it hard to accept them.
Two weeks ago, the CBN lowered the weekly over-the-counter cash withdrawal limit for individuals to N100,000 and for corporate organisations to N500,000.
The newly-redesigned N1,000, N500 and N200 bills became legal tender on December 15.
The judge said the SSS did not supply evidence indicating President Muhammadu Buhari’s approval before filing the salacious and uncorroborated allegations in court.
Economists have urged CBN to take firm control of the quantity of the redesigned naira notes it would release into circulation to avoid hoarding and counterfeiting.
“The policy will most certainly take away the jobs of thousands of young people operating POS at a time Nigeria is battling serious unemployment.”
Nigeria’s inflation rate reached a 17-year high of 21.09 per cent in October.
“We have a huge challenge of counterfeiting; Nigerians have set up factories and are just chunning out bank notes.”
