Africa

• Feb-7-2023

  Nigeria – Legal battle over older naira banknotes redemption.

  The poor way in which the exchange of old for new naira banknotes has been planned and executed by the...

• Feb-7-2023

  Nigeria – Political and legal ramifications of the naira redesign.

  The naira redesign operation snafu is getting more complicated. Other than the chaos and suffering caused by the way in...

• Feb-5-2023

  Nigeria – State Governors meet President Buhari over cash crisis.

  State governors from the All Progressives Congress, the ruling party, have meet yesterday 4 February 2023 with President Muhammadu Buhari...

• Feb-4-2023

  Nigeria – Central Bank asks for ‘understanding’.

  As reported today in The Nation Godwin Emefiele, Governor of the Central Bank of Nigeria, has asked Nigerians to show...

• Feb-3-2023

  Gambia – New family of banknotes is in the works.

  The Central Bank of The Gambia has reached in August 2022 an agreement with De La Rue for the printing...

• Jan-29-2023

  Nigeria – Central Bank extends redemption of withdrawn banknotes.

  The Central Bank of Nigeria has announced today 29 January 2023 that the redemption of older banknotes, subject to limits...

• Jan-26-2023

  Somalia – New banknotes in mid-2024.

  Ali Yasin Wardhere, Deputy Governor of the Central Bank of Somalia, told Xinhua in a recent interview that there are...

• Jan-22-2023

  Nigeria – Central Bank authorizes (very) limited cash exchange in rural areas.

  With only 8 working days left before they become worthless the Central Bank of Nigeria has authorized the direct exchange...

• Jan-21-2023

  Sierra Leone – Old currency still being used.

  Old pre-redenomination banknotes are still prevalent in the market. They were originally to be demonetized by end-September 2022. The date...

• Jan-17-2023

  Somalia – Central Bank plans to issue a new banknote.

  Bloomberg reports that the Central Bank of Somalia plans to issue in 2024 redesigned banknotes of 1,000 shillin (SOS1,000.2). Presently...

• Jan-10-2023

  Nigeria – Bank cash withdrawals limited to NGN20,000 per week for individuals.

  As of yesterday the Central Bank of Nigeria has limited cash withdrawals from bank accounts by individuals to NGN20,000 (=...

• Jan-5-2023

  Somalia – Central Bank calls for printing of new banknotes.

  Yesterday, 4 January 2023, in a meeting in Mogadishu chaired by Prime Minister Hamza Abdi Barr the Central Bank of...

• Jan-4-2023

  Nigeria – Senate urges Central Bank to extend old banknotes withdrawal.

  The Nigerian Senate has urged the Central Bank to extend the withdrawal period of previous banknotes of 200; 500 and...