• About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, August 13, 2025
  • Login
  • Cover
  • News
  • Politics
  • Business
  • Security
  • Entertainment
  • World
  • Sports
  • Editorial
  • Interview
No Result
View All Result
Newsdesk Africa
Advertisement
  • Cover
  • News
  • Politics
  • Business
  • Security
  • Entertainment
  • World
  • Sports
  • Editorial
  • Interview
No Result
View All Result
Newsdesk Africa
No Result
View All Result
Home Business

Naira Redesign: CBN recants, sets maximum bank deposits

Bature Magaji by Bature Magaji
November 5, 2022
in Business
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The Central Bank of Nigeria (CBN) has changed its former directives asking Nigerians to deposit whatever amount of the existing currency they have at the banks at no cost whatsoever and without any encumbrances. But Friday, the apex financial regulatory body changed the parameters, directing that individuals can only deposit N5 million for new accounts and N50 million for old accounts in one month.

The Director of Currency Operations at the CBN, Ahmed B. Umar, who issued the feesh directive said that individuals will not be allowed to deposit more than N5 million if the transaction involves a new account in one month and if the transaction involves an old account, then only a maximum of N50 million will be allowed.

He also warned that those with multiple accounts will be monitored via the Bank Verification Number (BVN), meaning that such deposits cannot be split into various bank accounts.

There has been controversy trailing the CBN’s announcement of change of currency, but disturbing video making the round, have made the ordinary Nigerians see the nation’s political leaders as very wicked and greedy, having seen where millions of Naira stashed away in homes and vehicles were damaged beyond use.

Nigerians have been calling on government to investigate the videos and bring those who have abused the Naira and horded money in that despicable manner to account.

Previous Post

Police arrest Eniola Badmus over Davido, Chioma son’s death

 Next Post

Snails: 6 persons arrested for beating, stripping woman naked in Enugu
Next Post

Snails: 6 persons arrested for beating, stripping woman naked in Enugu

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

https://youtu.be/FHyJ1Wr0FAk?si=0WVYI_2OR4OrIrQ4
https://youtu.be/gbE3azm_Io0?si=GdE3Mqelo1ujTNla
NCC directs banks to deduct USSD charges from airtime
Business

NCC, ONSA, stakeholders agree to protect telecom infrastructure 

by Mohammed Koi
August 13, 2025
0

The Nigerian Communications Commission (NCC) in reiterating its commitment to the full operationalisation of President Bola Ahmed Tinubu’s Executive Order on...

Read moreDetails
Court discharges, releases Ibom Air passenger, Emmanson

Court discharges, releases Ibom Air passenger, Emmanson

August 13, 2025
Why NNPC refineries may never work again — Dangote

Dangote refinery cuts ex-depot petrol price to N820/litre

August 13, 2025
Insecurity: Zamfara Assembly threatens to impeach Gov. Lawal

Insecurity: Zamfara Assembly threatens to impeach Gov. Lawal

August 13, 2025
NAF flies 1,500 hours, eliminates 592 insurgents, destroys 372 enemy assets in Borno

NAF flies 1,500 hours, eliminates 592 insurgents, destroys 372 enemy assets in Borno

August 13, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

Copyright© 2022-2025 Newsdesk Africa Published by Glossy Affairs Ltd. Tel: +2348152359152. Email: info@newsdeskafrica.com.ng editor@newsdeskafrica.com.ng

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
No Result
View All Result
  • Homepage

Copyright© 2022-2025 Newsdesk Africa Published by Glossy Affairs Ltd. Tel: +2348152359152. Email: info@newsdeskafrica.com.ng editor@newsdeskafrica.com.ng