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Naira Scarcity: Latest CBN News, Update On Naira Notes For Feb. 20, 2023




Naira Appreciates By 0.66% After Emefiele's Suspension

As the controversy associated with the new naira notes rages on, Naija News brings you the latest update on the controversial policy of the Central Bank of Nigeria (CBN).

Naira Scarcity: Details Of Adamu’s Meeting With APC Governors Emerge

The details of the meeting between the National Chairman of the All Progressives Congress (APC), Abdullahi Adamu and governors elected on the platform of the ruling party has emerged.

Naija News learnt that Adamu on Sunday joined the governors to call on President Muhammadu Buhari to obey the Supreme Court order on Naira redesign policy.

The Supreme Court had temporarily restrained the Central Bank of Nigeria (CBN) and the Federal Government from banning the use of the old naira notes from February 10.

The apex court gave this ruling on an ex parte application filed by the governments of Kaduna, Kogi, and Zamfara.

President Buhari, however, in a nationwide broadcast directed the CBN to make available the old N200 notes for the next 60 days, which elapses on April 10.

APC Governors in their reaction to Buhari’s directives ordered that the old notes remains a legal tender in their states.

President Buhari Speaks On Naira Crisis, Endorses Tinubu Again

President Muhammadu Buhari on Sunday appealed for more patience from Nigerians over the crisis faced by Nigerians over the Central Bank of Nigeria (CBN) naira policy.

President Buhari on Sunday said he is aware of the hardship faced by Nigerians, adding that the policy is meant to improve Nigeria’s economy.

The President stated this in a video recording from Ethiopia where he attended the just-concluded African Union summit.

He said, “I am appealing to you to exercise further patience as we take appropriate measures to ease these hardships. God willing, there will be light at the end of the tunnel.”

The Senior Special Assistant to the President on media and publicity, Garba Shehu, revealed this in a statement he signed on Sunday titled ‘In a video to sway voters for Tinubu President Buhari vows end to current hardship.’

He also charged Nigerians to vote for the presidential candidate of the All Progressives Congress (APC), Bola Tinubu.

El-Rufai Insists On Old Naira

The Governor of Kaduna State, Nasir El-Rufai has insisted on old N500 and N1000 being legal tender in the state.

Naija News reports that El-Rufai directed its Ministries, Departments and Agencies not to reject old naira notes.

El-Rufai stated this in a statement released on Sunday through the Special Adviser to the Governor on Media and Communication, Muyiwa Adekeye.

According to the Kaduna State Governor, the old and new naira notes should keep circulating in the state.

He said the directive is in line with the subsisting order of the Supreme Court on the naira notes

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