Naira Redesign: Emefiele Meets Bank Chiefs

The Governor of Central Bank of Nigeria, Mr. Godwin Emefiele on Thursday met with about 15 bank chiefs to finetune procedures towards implementing President Muhammadu Buhari’s directive on the naira redesign policy.

Governor Emefiele disclosed the meeting on Thursday.

GWG.ng reports that the CBN governor stated this when he visited presidential villa hours after the nationwide televised broadcast in which the president announced that only the old N200 note will remain a legal tender until April 10, 2023.

Emefiele said that the meeting with the bank chiefs earlier on Thursday was to ensure ample supply of the old 200 naira notes to alleviate the sufferings of Nigerians.

GWG.ng reports that Emefiele’s meeting with the bank chiefs came as the exchange rate between the naira and the US dollar remained stable on Thursday, February 16, 2023 at the black market, trading at an average of N755/$1, the same rate as recorded previous trading session.

This is according to information from black market FX operators who spoke to Nairametrics. Specifically, the traders noted that the buy FX from customers at an average of N745/$1 and sell for N755/$1. However, they also added that in some cases the rate could vary depending on the form of transaction, cash or transfer.

Meanwhile, naira appreciated marginally against the US dollar at the investors and exporters (I&E) window to close at N461.5/$1 on Wednesday, 15th February 2023 from N461.67/$1 recorded on Tuesday.

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