GoldenNewsNG
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
No Result
View All Result
Golden News
No Result
View All Result

New Naira Notes: Banks Receives N52b Cash Deposits In Two Weeks

The CBN claimed that some of the identified depositors were politicians, Bureau De Change operators, businessmen, real estate financiers, traders and others.

Rojon by Rojon
January 11, 2024
in News
Reading Time: 2 mins read
New Naira Notes: Banks Receives N52b Cash Deposits In Two Weeks
23
SHARES
Advertisements

Barely two weeks after the announcement of plans by the Central Bank of Nigeria (CBN) to redesign some naira notes, about N52 billion cash has been deposited in Nigerian banks.

 

GoldenNewsNg reports that there were indications that the deposit sum may increase in the next few days because it is suspected that about N3 trillion cash was in circulation at the time the apex bank announced the policy.

READ ALSO

FG Orders Banks to Flag Accounts with Monthly Transactions Over ₦5 Million

JAMB Awards ₦710 Million to Six Tertiary Institutions for Outstanding Admission Practices

 

The CBN claimed that some of the identified depositors were politicians, Bureau De Change operators, businessmen, real estate financiers, traders and others.

 

It was also learnt that the Economic and Financial Crimes Commission (EFCC) and other security agencies have directed banks to keep records of depositors, including institutions.

 

The screening of high-profile depositors, especially currency hoarders and money launderers, may begin soon.

 

There were fears that the redesigning of some naira notes may affect cash haul during the ongoing 2023 campaign.

 

According to a reliable source, who was armed with facts and figures, security and intelligence agencies have confirmed huge cash deposits of N52 billion in banks in less than two weeks.

 

The source said some representatives of one of the agencies appeared before a Senate Committee on Tuesday in Abuja behind the curtains.

 

The source said: “As the cash was being taken to banks, we were getting the details of all the depositors and in some cases, we could trace the sources.

 

“As of Tuesday, over N52billion cash has been deposited in various banks. Some of the deposits have been traced to some politicians, Bureau De Change operators, suspected money launderers, middlemen, drug barons, businessmen and traders.

 

“All the banks have been directed by the EFCC and other anti-graft agencies to keep records of cash depositors and their KYC. They are also mandated to make the list available when required.

 

“With this directive, it will be easier to uncover currency hoarders, speculators and those sabotaging the nation’s economy.”

 

Responding to a question, the source said: “Some politicians, governors and suspected fronts of Politically Exposed Persons (PEPs) have been on the radar of some anti-graft agencies.

 

“Some state governments cannot pay salaries because the corrupt table payment system they have adopted is not practicable with the CBN directive.

 

“Apart from redesigning the notes, the CBN is also complementing the anti-graft agenda of the administration of President Muhammadu Buhari.

 

“Nigerians have virtually abandoned the cashless economic policy for cash transactions.

 

“We may be on our way to addressing basic issues compounding our anti-corruption campaign as a nation.”

 

On October 26, the CBN announced its decision to redesign the naira.

 

It cited significant hoarding of banknotes, worsening shortage of clean and fit banknotes, and increasing ease and risk of counterfeiting.

 

It added that over 85 per cent of the currency in circulation is outside the vaults of commercial banks.

 

CBN said as of the end of September, N2.73trillion out of the N3.23 trillion currencies in circulation was outside the vaults of commercial banks and supposedly held by the public.

 

📢 JOIN OUR WHATSAPP GROUP 📢 JOIN OUR TELEGRAM CHANNEL
Previous Post

Latest Update On ASUU, ASUU Warns FG

Next Post

NDLEA: 8 Suspects Arrested In Ekiti For Indian Hemp Cultivation

Related Posts

FG Orders Banks to Flag Accounts with Monthly Transactions Over ₦5 Million

FG Orders Banks to Flag Accounts with Monthly Transactions Over ₦5 Million

Federal Government has ordered all Nigerian banks to Flag Accounts with Monthly Transactions Over ₦5 million GoldenNewsNg reports that Nigerian...

Read moreDetails

JAMB Awards ₦710 Million to Six Tertiary Institutions for Outstanding Admission Practices

JAMB Awards ₦710 Million to Six Tertiary Institutions for Outstanding Admission Practices

JAMB has Awarded ₦710 Million to Six Tertiary Institutions for Outstanding Admission Practices GoldenNewsNg reports that the Joint Admissions and...

Read moreDetails

YEIDEP Disbursement News Today July 8th 2025

YEIDEP Disbursement News Today July 8th 2025

This is the latest YEIDEP Disbursement News Today, July 8th, 2025 The Federal Ministry of Youth Development (FMYD) has released...

Read moreDetails

Top 15 Most Expensive Hotels in Nigeria and their Location (2025 Updated Guide)

most expensive hotels in Nigeria,

Nigeria’s hospitality industry has witnessed remarkable growth in recent years, with a surge in modern hotel infrastructure and global-standard service...

Read moreDetails

Petrol Prices Drop Below N900

Petrol Prices Drop Below N900

Petrol Prices Drop Below ₦900 as Dangote Refinery Cuts Ex-Depot Rates   GoldenNewsNg reports that petrol pump prices across Nigeria...

Read moreDetails

Senate Speaks on Natasha’s Return to Office 

Senate Speaks on Natasha Return to Office 

The Senate has reacted to Natasha's Return to Office following Court Judgment on her unlawful suspension   GoldenNewsNg reports that...

Read moreDetails

Dollar to Naira Black Market Exchange Rate today 7th July 2025 – AbokiFX

Dollar to Naira

Dollar to Naira Black Market Exchange Rate today, 7th July 2025, can be accessed below. GoldenNewsNg has obtained the official naira...

Read moreDetails

Peter Obi Speaks On Running With Atiku for 2027 Election [Video]

Peter Obi Speaks On Running With Atiku for 2027 Election

Peter Obi has responded to reports circulating that he will be Atiku Abubakar’s running mate in the 2027 presidential election....

Read moreDetails

SUG Leaders tasked to join fight against Sexual, Gender Based Violence in Higher Institutions across Niger state

  ... Want bill on sexual harassment passed into law Group photograph As part of efforts to end Sexual and...

Read moreDetails

Nigerian Banks Resume International Transactions on Naira Debit Cards

Nigerian Banks Resume International Transactions on Naira Debit Cards

Nigerian Banks Resume International Transactions on Naira Debit Cards as FX Liquidity Improves GoldenNewsNg reports that after nearly three years...

Read moreDetails
Load More
Next Post
NDLEA: Village Head Arrested For Drug Trafficking In Sokoto

NDLEA: 8 Suspects Arrested In Ekiti For Indian Hemp Cultivation

SEARCH ADS

Latest Posts

Court orders prosecution of auxiliary nurse linked to Mohbad’s death
Crime

Court orders prosecution of auxiliary nurse linked to Mohbad’s death

NELFUND Begins Disbursement of Upkeep Payments to Students with Updated Bank Accounts
Education

NELFUND Begins Disbursement of Upkeep Payments to Students with Updated Bank Accounts

FIRS to Launch Mandatory e-Invoicing System for Businesses with ₦5 Billion Turnover and Above
business

FIRS to Launch Mandatory e-Invoicing System for Businesses with ₦5 Billion Turnover and Above

Green Money Projec
Headline

Green Money Project 2025: How to Apply for FG Youth Agriculture Empowerment Programme

FG Orders Banks to Flag Accounts with Monthly Transactions Over ₦5 Million
business

FG Orders Banks to Flag Accounts with Monthly Transactions Over ₦5 Million

JAMB Awards ₦710 Million to Six Tertiary Institutions for Outstanding Admission Practices
Education

JAMB Awards ₦710 Million to Six Tertiary Institutions for Outstanding Admission Practices

JAMB Cut Off Mark for Civil Engineering
Education

JAMB Cut Off Mark for Civil Engineering 2025/2026 in Nigerian Universities

NELFUND Begins Disbursement of Upkeep Payments to Students with Updated Bank Accounts
Education

NELFUND Begins Disbursement of Funds to Students in Saapade, MAPOLY, and LASUED

Official JAMB Cut Off Mark for Medicine and Surgery 2025/2026 In Nigerian Universities
Education

Official JAMB Cut Off Mark for Medicine and Surgery 2025/2026 In Nigerian Universities

JAMB Cut Off Mark For Computer Science
Daily Guides

Official JAMB Cut Off Mark For Computer Science 2025/2026: Requirements And Admission Tips

© 2024 Golden News

  • About Us
  • Advertise with Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms And Conditions
No Result
View All Result
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us

© 2024 Golden News