Monday, March 30, 2026
  • 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

https://youtu.be/FHyJ1Wr0FAk?si=0WVYI_2OR4OrIrQ4
https://youtu.be/gbE3azm_Io0?si=GdE3Mqelo1ujTNla
Recent viral images linking me to PDP activities fake – Prof. Alkali
News

Recent viral images linking me to PDP activities fake – Prof. Alkali

by Newsdesk Africa
March 29, 2026
0

A chieftain of the All Progressives Congress (APC), Prof. Rufa’i Ahmed Alkali, has dismissed as false a viral image circulating...

Read moreDetails
Kwankwasiyya Movement  confirms Kwankwaso will join ADC

Kwankwasiyya Movement  confirms Kwankwaso will join ADC

March 29, 2026
NDLEA intercepts large cocaine consignment concealed in heads of dry stock fish

NDLEA intercepts large cocaine consignment concealed in heads of dry stock fish

March 29, 2026
How Nigeria’s presidential election in 2027 could be un-contested

How Nigeria’s presidential election in 2027 could be un-contested

March 29, 2026
2027: Kwankwaso set to join ADC Monday

2027: Kwankwaso set to join ADC Monday

March 29, 2026
  • 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