Sunday, June 7, 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
NDLEA intercepts over 320,000 Tramadol capsules hidden in building materials
Crime

NDLEA intercepts over 320,000 Tramadol capsules hidden in building materials

by Aminu Danladi
June 7, 2026
0

*Arrests 75-year-old suspect The National Drug Law Enforcement Agency (NDLEA) has intercepted large consignment of opioids concealed in building materials...

Read moreDetails
Troops intercept arms courier in Zamfara, with over 1,000 rounds hidden in millet bags

Troops intercept arms courier in Zamfara, with over 1,000 rounds hidden in millet bags

June 7, 2026
49 persons reportedly died of thirst in Sahara desert

49 persons reportedly died of thirst in Sahara desert

June 7, 2026
Proposed Legal Practitioners Bill: What is more?

Alleged Investment Scam: Court orders interim forfeiture of property, phones

June 7, 2026
Why NNPC refineries may never work again — Dangote

Dangote Refinery strengthens Africa’s energy independence with 700,000-barrel/day output

June 7, 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