Monday, July 27, 2026
  • Cover
  • News
  • Politics
  • Business
  • Security
  • Entertainment
  • World
  • Sports
  • Editorial
  • Interview
  • Mails
No Result
View All Result
Newsdesk Africa
Advertisement
  • Cover
  • News
  • Politics
  • Business
  • Security
  • Entertainment
  • World
  • Sports
  • Editorial
  • Interview
  • Mails
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
BBNaija Season 11: Housemates vow drama, reject romance, target N160m grand prize
Entertainment

BBNaija Season 11: Housemates vow drama, reject romance, target N160m grand prize

by Ada Okafor
July 27, 2026
0

The 11th season of Big Brother Naija officially premiered on Saturday, with 24 housemates unveiled to compete for the show’s...

Read moreDetails
Education, healthcare bedrock to Nigeria’s prosperity – Obi

2027: I’m not desperate to be president, but to make Nigeria work — Obi

July 27, 2026
Fresh Killings: Suspend rhetoric, get to work, Atiku tells Tinubu

Again, Peter Obi asks Tinubu to resign, says ‘it’s time to go home and rest’

July 27, 2026
Vice-Chancellor proceeds on leave amid sexual harassment scandal

1.6m students in tertiary institution benefit from NELFUND — Okowa

July 27, 2026
Proposed Legal Practitioners Bill: What is more?

Bandits abduct Kebbi High Court Judge from home in Bunza

July 27, 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