• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, August 8, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Expert worries over scarcity of new Naira notes

Naira

The Matters Press by The Matters Press
April 16, 2023
Reading Time: 1 min read
0
Experts validate Nigeria’s implementation strategies for success under AfCFTA

Mr Gabriel Okeowo, the Country Director, BudgiT Foundation Nigeria, a Non-Governmental Organisation (NGO), has expressed concern over non availability of the redesigned Naira notes.

RELATED POSTS

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

National Single Window initiative, a major step for efficient cross-border trade – TMSG

‎Group celebrates 45% increase in federal revenue in just one month

Okeowo said in Abuja on Sunday that with six months to deadline for use of old notes, the Central Bank of Nigeria (CBN) ought to have released more new notes, while gradually mopping up old notes.

The country director said he was yet to understand the rationale behind allowing more old notes in circulation when deadline for its use was closing in.

According to him, if the CBN continues to release old notes rather than new notes, it will be difficult to mop up the old notes before Dec. 31.

Okeowo said besides the need for availability of the redesigned notes, there was an urgent need for overhaul of bank Internet infrastructure for effective implementation of the cashless policy.

“If what is in circulation right now are the old Naira notes, it then means even the new Naira notes are not available.

“Also, as we speak, the queues have not completely gone, electronic transactions still decline and money not reversed within 24 hours in most cases.

“Furthermore, the internet infrastructure is not advanced enough for effective electronic transactions.

“If all of these are not put in place, I see a possibility of the extension of deadline for use of old Naira notes beyond Dec. 31,” he said.

The Supreme Court on March 3, ruled that all old denominations including N500 and N1, 000 notes remained valid till Dec. 31.

The ruling followed hardship experienced by Nigerians as a result of the Naira redesign and cashless policy of the CBN, which took effect from Jan. 31.

Tags: Naira
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Chatham House stance on Nigeria’s economy, a non-biased assessment of  reforms
Economy/Technology

‎Group celebrates 45% increase in federal revenue in just one month

July 28, 2025
POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Alleged Wasteful Turn Around Maintenance (TAM) of Refineries: Setting the records straight

July 25, 2025
Dangote Fertilizer in gas supply deal
Economy/Technology

IMPI seeks forensic audit of refineries from 2000 to 2023 ‎ ‎

July 25, 2025
Nigeria’s Dangote refinery will cut Africa’s petrol import by 36%
Economy/Technology

‎ADC erred, APC administrations never spent $18bn on refineries-IMPI ‎

July 25, 2025
Next Post
Intimidation, cyber-bullying by loan sharks

AfDB, EU, France in $300m loan for development projects in Tanzania

Nigeria emerges Africa biggest energy sector

Buhari provides brighter future for energy in Nigeria

Recommended Stories

Poverty in West Africa increases by 3%

Poverty in West Africa increases by 3%

January 21, 2022
Insecurity brings northern governor together on options

Release of N570bn to State Governments will ease hardship – TDF

August 9, 2024
Terrorists attack, kill Nigerian soldiers

Terrorists attack, kill Nigerian soldiers

November 20, 2024

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎
  • National Single Window initiative, a major step for efficient cross-border trade – TMSG
  • ‎Group celebrates 45% increase in federal revenue in just one month

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us