Finance

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• * Security Agencies To Monitor Cash Withdrawal Across Bank Counters

• New Notes To Begin Circulation Ahead Of December 15 Earlier Date

• Naira To Be Redesigned, Re-issued Every Five To Eighth Years Henceforth, Says CBN Gov, Emefiele

By Celestine Okafor (Editor-in-Chief) @CelestineOkaf11

The much awaited new naira notes of N200, N500 and N1,000 were formally unveiled on Wednesday, December 23, 2022, at the Council Chamber of the Presidential Villa, Abuja, by President Muhammadu Buhari. The president publicly presented the new notes during the weekly Federal Executive Council (FEC), meeting which he presided over.

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• * Currency Hoarders Can Run, They Can't Hide

Three serving state governors are being monitored over their moves to launder stashed billions of naira through table payment of salaries to workers, Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has been quoted as saying.

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The Central Bank of Nigeria, CBN has confirmed the sale of Polaris Bank to a new core investor.

CBN spokesman, Osita Nwanisobi, Director, Corporate Communications disclosed this in a statement Thursday.

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By Bayo Oguntade (Finance/Money Market Correspondent, in Lagos)

Since the introduction of Financial Inclusion by the Central Bank of Nigeria in the Nigerian banking space through the launch of the National Financial Inclusion Strategy in 2011 as adopted, the scheme witnessed tremendous growth in several financial inclusion indicators, especially in its early years of implementation in 2014 but could not be sustained in the later years, particularly in 2017.

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By Adebayo Oyekanmi (Money Market Correspondent)

THE African Development Bank (AfDB) has announced the appointment of Mr. Ifechukwude Emmanuel Ezinwa, as Acting Director, Human Resources Operations, Recruitment and Client Services Department.

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By Celestine Okafor (Editor-in-Chief) @CelestineOkaf11

Experts in the nations financial sector have identified gaps in the set objectives by the Central Bank of Nigeria (CBN), to significantly reduce the number and percentage of adult Nigerians who are excluded from the formal Financial System of the country.

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