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Tag: Bank notes

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Nigeria: Court halts deadline to swap banknotes amid chaotic scenes

Elwin Mandowa, , , , , , ,
Nigeria’s Supreme Court has halted the government’s plan to enforce a Friday deadline for citizens to swap old banknotes for new ones. The government had expected Nigerians to turn in old 1,000, 500 and 200 naira banknotes in exchange for newly designed notes by Friday. The central bank wanted the initiative to curb cash in circulation and control double-digit inflation.… Read More
Africa Business Nigeria News and Headlines West Africa World 

Nigeria’s President to deal with cash crunch ahead of exchange deadline

Elwin Mandowa, , , , , , , 1 Comment
Nigeria’s President Muhammadu Buhari has promised to deal with the cash crunch the country is experiencing currently. The crisis has caused chaotic scenes in parts of the West African country which is expected to hold elections this month. Nigerians are trying to get their hands on new naira notes ahead of a February 10 deadline. The old notes which will… Read More
Africa Business Nigeria News and Headlines West Africa World 

Nigeria releases new bank notes into circulation

Elwin Mandowa, , , , , , ,
– – Nigeria has released its new currency into circulation in the first such redesign in 20 years. It is expected to address insecurity, tackle counterfeiting and force excess cash back into the banking system, the government said. Nigeria’s central bank had said more than 80% of the money in circulation was being hoarded by individuals. It has urged people… Read More
Africa Business Southern Africa World Zimbabwe 

Zimbabwe to roll out new bank notes in November

Village Reporter, , , , , ,
Zimbabwe’s central bank has said that the country’s new bank notes and coins will be in circulation in November this year. The Zimbabwe dollar currency was re-introduced this year after the country abandoned the US dollar as its official currency. This was to stabilize Zimbabwe’s economy which is still struggling to survive and currently in crisis. Zimbabwe’s President, Emmerson Mnangagwa… Read More
Africa Business Gambia West Africa World 

Gambia releases new bank notes without Jammeh’s portrait

Village Reporter, , , , , ,
Gambia on Tuesday officially released new bank notes that will be without the portrait of the former President Yahya Jammeh. On Monday the Gambian central bank governor, Bakary Jammeh presented copies of the new notes to President Adama Barrow. The notes have now been released to the public through commercial banks. Gambia uses the dalasi and has been in circulation… Read More