14 March 2025
14:25

TOSCAD NEWS NIGERIA

News as it breaks

Tag: #Naira

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FG Considers Converting Foreign Currencies In Domiciliary Accounts To Naira

Wendy R.

The Federal Government is considering a policy that will result in the conversion of foreign currencies in domiciliary accounts of citizens to naira to stabilise the national currency.   If the plan succeeds, the government will order the conversion of foreign currencies sitting in individuals’ and corporate organisations’ domiciliary accounts to naira at a rate to be determined by the Central Bank of Nigeria.   One of the Presidency sources told Punch that the problem of forex scarcity and the naira fall was an elite issue, adding that the Federal Government would not fold its arms and continue to watch…

ToscadGists

200, 500 And 500 Naira Notes To Remain In Circulation Till December

Toscad News

3/3/23 NEW-NOTES/JUDGMENT 200, 500 And 500 Naira Notes To Remain In Circulation Till December The Supreme Court has declared that the old and the new Naira notes of 200, 500 and 1000 remain in circulation as a legal tender until the 31st of December, this year. The Apex court held that the demonetisation policy was not in consonance with the constitution, adding that the three months notice was not satisfactory. The seven-man panel of Justices led by Justice Emmanuel Agim, held that the decision of the president on the new monetary policy should have been made after consultation with all…

ToscadGists

FG Not In Breach Of Supreme Court Order On Cash Swap – Malami

Toscad News

However, reacting to questions on the allegations of breach of Supreme Court order by the President and his administration, Malami said: “Your question can best be answered within the context of what constitutes a rule of law in the Nigerian situation. Where an order is made by a court, you have multiple options but let me state before even addressing the issue of the options available at our disposal as a government.