Central Bank of Nigeria - CBN
The Nigerian Senate approved the proposal of the Central Bank of Nigeria (CBN) to redesign the naira. The red chamber has promised legal backing for the plan.
President Muhammadu Buhari on Sunday, October 30, stated that the Central Bank of Nigeria has his approval to redesign naira notes as it had earlier proposed.
Finally, Sheikh Ahmad Gumi has kicked against redesigning the naira by the CBN, describing it as economic suicide for Nigerians, especially rural dwellers.
The naira fell to its lowest of N780 against the dollar at the parallel market and the official market on Friday as CBN plans to redesign the currency notes.
Ex-senator of Kaduna central, Shehu Sani, has described the new bank notes as repetition of President Muhammadu Buhari's style in 1984 as military head of state
The Central Bank of Nigeria Governor, Godwin Emefiele, on Wednesday, October 26, said the apex bank will redesign three naira notes: N200, N500, and N1000.