• About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, February 24, 2026
  • 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

https://youtu.be/FHyJ1Wr0FAk?si=0WVYI_2OR4OrIrQ4
https://youtu.be/gbE3azm_Io0?si=GdE3Mqelo1ujTNla
Jousting: Elon Musk calls for Trump’s impeachment amid escalating fallout, claiming he is in Epstein files
Cover

US unmasks Boko Haram, ISIL sponsors in Nigeria

by Eze Chidozie
February 24, 2026
0

A document from the United States has confirmed various bank accounts, stocks and crypto currency details of bandits sponsors and...

Read moreDetails
Fire razes part of MMIA terminal

Fire razes part of MMIA terminal

February 24, 2026
8 Div GOC’s convoy foils deadly ambush in Kebbi

8 Div GOC’s convoy foils deadly ambush in Kebbi

February 24, 2026
60th Birthday: Gov. Uzodimma hails Akagburuonye, describes him as passionate politician

60th Birthday: Gov. Uzodimma hails Akagburuonye, describes him as passionate politician

February 23, 2026
NNPC, Dangote forge renewed alliance to deepen energy security

NNPC, Dangote forge renewed alliance to deepen energy security

February 23, 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