Skip to content

Email: ifo@osazuwaakonedo.news

  • Facebook
  • Instagram
  • Linkedin
  • Twitter
  • TikTok
  • Amazon
OsazuwaAkonedo

OsazuwaAkonedo

Banking and Media Consultancy… We Analyze The News

  • Home
  • Health
  • News
  • Entertainment
  • Sports
  • Breaking News
  • Economy
  • Politics
  • Editorial
  • Podcast
  • Columns
    • Reno Omokri
    • David Ugolor
  • Life
  • Security
    • Law
    • Nigeria Police Force
    • NDLEA
    • Nigerian Army
    • EFCC
  • NewsPapers
    • Nigeria Newspapers
  • Word News
Finance Minister To Senators: Invite CBN Governor Over Naira Redesign, I've No Idea ~ OsazuwaAkonedo ###Dollar #budget #Buhari #Ekiti #Nigeria #Nigerian #2023 #Ahmed #Bamidele #Bank #budget #Buhari #cbn #Ekiti #Emefiele #Godwin #Governor #Minister #Muhammadu #Naira

Finance Minister To Senators: Invite CBN Governor Over Naira Redesign, I’ve No Idea

Posted on October 29, 2022October 29, 2022 By OsazuwaAkonedo No Comments on Finance Minister To Senators: Invite CBN Governor Over Naira Redesign, I’ve No Idea
Economy, news, World News

Nigeria Minister of Finance, Budget and National Planning, Zainab Ahmed has said she has no idea of the planned redesigning of the Naira notes as announced by the Central Bank of Nigeria Governor, Godwin Emefiele.

The Finance Minister stated this while responding to questions before her during the 2023 budget defence session with the Senate Committee on Finance.

CBN Governor, Godwin Emefiele had said he got the approval of President Muhammadu Buhari to redesign the naira notes when he announced the currency change during the week.

Life Not That Bad In Nigeria – Reno Omokri

Crude Oil Discovery In Nasarawa State Will Lead Nigeria To Greater Prosperity – Buhari

Ramadan: Kano Bans ‘Keke’, Illegal Horse Riding, Fireworks

Nnamdi Kanu: We Rescued Kamsi From Kidnappers – Police

IPOB Activities Peaceful, But Suspected For Killing 57 People In 2022 – Global Terrorism Index

Activists Stage Protest In Vienna To Counter European Gas Conference

Femi Fani-Kayode Attacks Obasanjo Over Iwanyanwu Alleged Statement Against Yorubas

CP Orders Manhunt Against Unknown Gunmen Who Kill 2 Policemen In Enugu

NDLEA Arrests Businessman Who Conceal Cocaine In Bags’ Handles, Slippers

Ex NIMASA DG Akpobolokemi Knows Fate May 5 As EFCC Re-arraigns Ex PDP Chairman Son

Details of the Finance Minister statements before the Senate Committee on Finance are captured below as reported by Nation Newspaper.

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has stated she knew nothing about the recent decision of the Central Bank of Nigeria(CBN) to redesign some naira notes.

She spoke barely 48 hours after CBN Governor Godwin Emefiele announced that the redesigned notes would become official legal tenders by December 15, 2022.

The Minister, who commented on the policy in response to a question by Senator Opeyemi Bamidele (APC – Ekiti Central) during 2023 budget defence session with the Senate Committee on Finance, warned the CBN of consequences that may arise from it.

Bamidele, had in his question, told the Finance Minister that barely two days after CBN announced the policy, repercussion of it on the value of Naira to US dollar was being felt.

“Just two days after the announcement of the policy, the value of the Naira to a US dollar has risen from 740 to 788 naira to a US dollar due to rush in exchange of stashed Naira notes for foreign currencies, particularly the U.S. dollar.

“To me, the policy may be a well conceived one, but the timing going by the realities on ground, is very wrong as the Naira may fall to as low as 1,000 naira to a US dollar before January 31, 2023 fixed for full implementation of the policy,” he said.

Surprisingly, the Minister in her response said she and her Ministry, were not aware of the policy but only heard about it from the media.

“Distinguished Senators, we were not consulted at the Ministry of Finance by CBN on the planned Naira redesigning and cannot comment on it as regards merits or otherwise.

“However as a Nigerian privileged to be at the top of Nigeria’s fiscal management, the policy as rolled out at this time, portends serious consequences on the value of the Naira to other foreign currencies.

“I will however appeal to this committee to invite the CBN Governor for required explanations as regards merits of the planned policy and rightness or otherwise of its implementation now,” she said.

Emefiele on Wednesday said that the apex bank would redesign the 200, 500 and 1,000 naira following the approval of President Muhammadu Buhari.

He said that the action was taken to take control of the currency in circulation, pointing out the bulk of the nation’s currency notes were outside banking operations.

The planned policy he added, was in line with Sections 19, subsections A and B of the CBN Act 2007, upon which the management of the CBN sought and obtained the approval of President Muhammadu Buhari to redesign, produce, and circulate new series of banknotes at 200, 500, and 1,000 naira notes.

Related

33 views
  • SUPPORT OsazuwaAkonedo
    via Webmoney
  • PRODUCTS AND SERVICES
    Prices
  • SUPPORT OsazuwaAkonedo
    via paypal
  • Our Editorial
    Guildlines
  • SUPPORT OsazuwaAkonedo
    News Media
  • Nigerians May Suffer More Hardship, Pains In 2021 As Buhari Plans More For Reckless Spending, Borrowing, High Taxation
  • Nigerians May Suffer More Hardship, Pains In 2021 As Buhari Plans More For Reckless Spending, Borrowing, Higher Taxation
  • Day Journalists Failed Nigerians
  • Atiku to Buhari: Withdraw The 2021 Budget, It’s Poorly Formulated, It Shows Nigeria Is In Bad Economic Situation
  • Budget 2021: What Nigerians Need To Know …More than N10 trillion Budgeted for personal non developmental gains
  • 2021 Budget: How N47.023 Billion Special Allowance On Foreign Missions Can Solve Nigeria Problems
  • Words To Buratai: Loyalty Of Criminals In The Nigerian Army Is To The President, The Loyalty Of The Entire Nigerian Soldiers Is To Nigerians
  • 2021 Budget: Buhari Budgets N25 Billion As Loan For Nigerian Youths, To Spend N279.9 Billion As Miscellaneous Expenses
  • 2021Budget: How Buhari Plans To Make More Than 100 Million Nigerians More Poorer In 3 years
  • 2021 Budget: How America Finance Its Armed Forces …why Nigeria security challenge will remain worst
Tags: ###Dollar #budget #Buhari #Ekiti #Nigeria #Nigerian #2023 #Ahmed #Bamidele #Bank #budget #Buhari #cbn #Ekiti #Emefiele #Godwin #Governor #Minister #Muhammadu #Naira #Nation #National #Nigeria #Nigerian #Opeyemi #President #Senate #US #Zainab
Advertisements
Unknown Gunmen: Wike Lifts 2 Months Old Curfew In Rivers State
STATEWIDE BROADCAST BY GOVERNOR NYESOM EZENWO WIKE ON 6...July 7, 2021
Death Toll Passes 20000 In Turkey-Syria Earthquake
More than 20000 people have been confirmed dead following t...February 9, 2023
Army Sets Up 20-Man Peace Committee In Kaduna, Decorates Police Officer
By Press Unit Commander, Special Task Force Operatio...September 11, 2022
I Paid N1.8m Ransom, I'm Into Debt Now - Kidnapped Guardian Newspaper Reporter Begs For Help
Guardian Newspaper Reporter, Julius Osahon who was among th...April 10, 2022
If The Weather Was Bad, What Stops Buhari From Traveling By Road To Zamfara - Shehu Sani
In what many see as the fear of the terrorists group known ...January 29, 2022
Godwin Obaseki, The Military Governor In Edo State
This article as written by Senior Advocate of Nigeria, ...September 14, 2021
Media Reports Untrue, IPOB Not A Terrorist Group, Not Ban In UK - British Government
British Government has distanced self from the media report...May 6, 2022
We Have Arrested Some Unknown Gunmen Behind Agwa DHQ Attack - Police
By Michael Abattam Sequel to the attack on Agwa Poli...August 8, 2022
What Buhari Did When He Visited Kuje Prison, Puts Total Escapees At 800
By Garba Shehu President Muhammadu Buhari Wednesday ...July 7, 2022
Roads I Built, Buhari Commissions Are Federal Roads - Uzodimma
By Hope Uzodimma On behalf of the Government and goo...September 14, 2022
Wrong Energy: Buhari Is The Reason Why Super Eagles Fail - Reno Omokri
Total Energies is the theme of Africa Cup of Nations 2021 b...January 23, 2022
Nnamdi Kanu: Buhari Must Obey Court Order, Aba Women Stage Protest, Raise Biafra Flag
Group of women in Abia state on Friday raised Biafra flag t...December 17, 2022
Naira Redesign: CBN Issues New Circular, Nigeria Begins Cashless Economy
Nigeria will begin the practice of full cashless economy by...December 6, 2022
Attahiru: Nigerian Politicians Abandons Fati, Families, Flood Aso Rock To Console Buhari #OsazuwaAkonedo
Femi Adesina, one of the spokespersons to President Mu...May 25, 2021
Sammie Okposo Dies
Nigerian born international gospel music star, Sammie Okpos...November 25, 2022
Police Arrests Man Who Kill Stepmother Over N1m
Anambra State Command of the Nigeria Police Force has arres...November 20, 2022

Post navigation

❮ Previous Post: Naira Change And Issues Arising
Next Post: Abuja: Terrorists Takeover Rumour, Don’t Panic – Buhari Assures Nigerians ❯

You may also like

How Banks Frustrate Developmental Projects___Governor Wike #OsazuwaAkonedo ~ OsazuwaAkonedo #banks #cbn #Nigeria #projects
news
How Banks Frustrate Developmental Projects___Governor Wike #OsazuwaAkonedo
May 30, 2021
EFCC Officials Flood PDP Convention, Reason Unknown ~ OsazuwaAkonedo #Abuja #APC #banks #Buhari #cbn #Crimes #Dollar #economy #EFCC #election #goods #Naira #Nigeria #Nigerians #OsazuwaAkonedo #PartyPrimaries #PDP #President
Economy
EFCC Officials Flood PDP Convention, Reason Unknown
May 28, 2022
Time For A Referendum Not Election - 'Babalawo' Dressed Lawyer ~ OsazuwaAkonedo ############2023Election ###Muslim-MuslimTicket ##BAT #Buhari #herdsmen #job #Nigerian #Nigerians #Tinubu #Babalawo #Bola #Malcolm #Omirhobo #OsazuwaAkonedo #Shettima
Economy
Time For A Referendum Not Election – ‘Babalawo’ Dressed Lawyer
July 16, 2022
Nothing May Go Well In Nigeria Because The Blood Of Millions Of Biafra Children Killed Cries For Vengeance___FFK #OsazuwaAkonedo ~ OsazuwaAkonedo #Biafra #igbos #Nigeria #war
news
Nothing May Go Well In Nigeria Because The Blood Of Millions Of Biafra Children Killed Cries For Vengeance___FFK #OsazuwaAkonedo
May 30, 2021
Nigerian Army Receives Equipments From African Union ~ OsazuwaAkonedo ##military #African #army #Nigerian #OsazuwaAkonedo #terrorists #Union
news
Nigerian Army Receives Equipments From African Union
July 13, 2022
Arise TV Host, Rufai Oseni Fined For Traffic Violation After Threatening Policemen To Call The Governor ~ OsazuwaAkonedo #BRT #Lagos #media #Naira #Nigeria #OsazuwaAkonedo #Oseni #Police #Rufai
Law
Arise TV Host, Rufai Oseni Fined For Traffic Violation After Threatening Policemen To Call The Governor
August 3, 2022
Don Jazzy's Mum Dies ~ OsazuwaAkonedo ############2023Election #death #Nigerian #Don #Jazzy #OsazuwaAkonedo
Breaking News
Don Jazzy’s Mum Dies
July 23, 2022
Old Naira Notes Can Still Be Use After Feb 10 Deadline, Supreme Court Rules ~ OsazuwaAkonedo #2023Election #banks #breaking #Buhari #cbn #Court #deadline, #economy #Emefiele #Godwin #Muhammadu #Naira #Notes #OsazuwaAkonedo #politics #security #Supreme
Breaking News
Old Naira Notes Can Still Be Use After Feb 10 Deadline, Supreme Court Rules
February 8, 2023
PDP May No Longer Exist If It Loses 2023 Presidential Election - Wike ~ OsazuwaAkonedo #2023Election #APC #election #God #government #insecurity #NyesomWike #Obi #PDP #President #Rivers #war #Wike
news
PDP May No Longer Exist If It Loses 2023 Presidential Election – Wike
April 25, 2022
Buhari Meets Freed 23 Abuja-Kaduna Train Victims, Thanks Nigeria Soldiers ~ OsazuwaAkonedo #Abuja #Buhari #Kaduna #Nigerian #army #bandits #Boko #Haram #Muhammadu #OsazuwaAkonedo #terrorists #Train
Breaking News
Buhari Meets Freed 23 Abuja-Kaduna Train Victims, Thanks Nigeria Soldiers
October 6, 2022
How John Lyon, Gang Members Have Been Terrorizing Bayelsa State For 7 Years - Police ~ OsazuwaAkonedo ###cult ###Dollar ###Nigeria ###Police ###security ##Bayelsa ##Ikechukwu ##John ##Lion ##Lyon ##OsazuwaAkonedo
news
How John Lyon, Gang Members Have Been Terrorizing Bayelsa State For 7 Years – Police
September 27, 2022
Nnamdi Kanu Asks Lawyers To Challenge Order Stopping His Release At Supreme Court ~ OsazuwaAkonedo #Appeal #Court #God #Ifeanyi #Mike #Appeal #Biafra #Buhari #Court #Ejiofor #FG #God #Ifeanyi #ipob #Kanu #Mike #Muhammadu #Nnamdi #OsazuwaAkonedo #Ozekhome
Law
Nnamdi Kanu Asks Lawyers To Challenge Order Stopping His Release At Supreme Court
November 1, 2022

Leave a Reply Cancel reply

Economy

  • FG Adds 8 New Terrorism Charges Against Nnamdi Kanu

    January 17, 2022

  • Zelensky Sacks 2 Ukrainian Generals Alleged To Be Traitors

    April 1, 2022

  • Less Than A Month In Office, Soludo Swears In Commissioners, Special Advisers

    April 9, 2022

  • Our Investigation Shows Naira Marley Is Into Yahoo Yahoo – EFCC

    June 10, 2022

  • IGP, Governor Sanwo-Olu Meets On Speedy Justice For Omobolanle

    December 30, 2022

Entertainment

  • Tracing Ekweremadu, Wife, Doctor Obeta Road To Prison

    March 24, 2023

  • Abuja: Terrorists Takeover Plan, Buhari Summons Service Chiefs, Cancels Event

    October 31, 2022

  • Hushpuppi: Abba Kayri Now Have Time To Sew Native Clothes, Reno Omokri Speaks As IGP Usman Baba Pencils DCP For Suspension

    August 1, 2021

  • Army Troops Kill 10 Bandits In Kaduna

    December 24, 2022

  • Russia-Ukraine War Challenging Global Peace – Buhari Warns, Demands Nuclear Free World

    September 22, 2022

Security

  • 68 Killed In Nepal Plane Crash, 4 Survivors

    January 15, 2023

  • Bonny River: Military Chopper Did Not Shoot At Passengers Cargo Boat, Rather, They Were Criminals – Defence Headquarters

    August 30, 2021

  • [VIDEO] Angry Soldiers Kill 20 Innocent Villagers In Edo After Gunmen Kill Two In Separate Attack

    March 14, 2022

  • Unknown Gunmen Killed My Brothers, The War Has Started, Party Over – Soludo

    May 23, 2022

  • Cubana Chief Priest Reacts To Obi Cubana Critics

    July 20, 2021

Politics

  • Soldiers Revenge Dzarma Zirkusu’s Death, Kill 50 ISWAP-Boko Haram Terrorists

    November 15, 2021

  • Man Burn Alive In Ihiala

    February 11, 2023

  • EFCC To Auction Seized Real Estate – Bawa

    December 16, 2022

  • Osinachi Husband, Peter Nwachukwu Still In Kuje Prison – Prison

    July 13, 2022

  • Physically Challenged, Others Refused To Leave As Police Tries To Stop Obidients Rally In Ebonyi

    September 17, 2022

  • Details About Ownership, Funding Sources And Founding Date
  • How Errors Are Corrected And Missing Information Added
  • Team
  • How We Verified Information
  • Editorial Ethics
  • About
  • Fact Checking Policy
  • Contact
  • Privacy Policy
  • Ivy FM
  • Apple
  • Google News
  • Telegram
  • About Publisher
  • Facebook
  • Instagram
  • Linkedin
  • Twitter
  • TikTok
  • Amazon

osazuwaakonedo.news © 2020-2023 Published by OSAZUWAAKONEDO LIMITED, Consultant, Producer, and Publisher of OsazuwaAkonedo titles

Add OsazuwaAkonedo App to your Homescreen!

Add

WhatsApp us

WhatsApp Group