Finance

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NEW NAIRA NOTES SECURED AGAINST FAKING, AS BUHARI UNVEILS CURRENCY

* 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.

Naira Redesign: EFCC GOES AFTER STATE GOVERNORS

* 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.

CBN UNVEILS NEW OWNERS OF POLARIS, AS IT CONFIRMS SALE OF BANK

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.

* L-R: Yinka Tiamiyu, immediate-past Chairman, ACAEBIN; Walter Akpani, Managing Director/CEO, ProvidusBank Limited and Felix Igbinosa, Chairman ACAEBIN at the 53rd Quarterly General Meeting of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) held in Lagos recently.

Financial Inclusion: BANK AUDITORS INTENSIFY CALL FOR REGULATION OF FINTECH FIRMS

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.

AfDB APPOINTS NIGERIA'S EZINWA ACTING DIRECTOR, HUMAN RESOURCES OPERATIONS DEPT

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.

Financial Inclusion: EXPERTS IDENTIFY GAPS IN ACHIEVING TARGET SET BY CBN

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.