• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

The Naira rebrand farce and unwarranted pain of living or doing business in Nigeria

3 years ago
in Business, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
49
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

The Naira rebrand farce and unwarranted pain of living or doing business in Nigeria

In a matter of six weeks, you will have process your Naira notes for new ones promised by the Central Bank of Nigeria as the answer to Nigeria’s woes.

In about ten weeks, you will need to present yourself to be counted in a new national census. And in about 12 weeks, if you are of adult age, you will be required to vote for a new president.

But right now you are facing a dollar crunch, buying a bag of rice for N51k and diesel for near N900 a litre.

Data from Apapa wharf and Tin Can Island ports in Lagos suggest up to 50 percent drop in the number of containers being presented daily for Customs examination, a clear indication of an acute goods shortage ahead of Christmas. On top of this, you cannot fly to Dubai on Emirates.

And you are probably asking what is the next surprise?

As if Nigerians had not had enough economic jolts, they were further startled by the proposed guidelines for redesigning the Naira.  There will be new N200, N500 & N1000 notes from December 15 this year.

RelatedPosts

Foreign Capital Inflows Into Banking Sector Hit Five-Year High in 2024

Electricity is Getting Cheaper Across Africa

Summary of Events Following Confirmation of Deaths of Defence and Environment Ministers, Six Others in Military Helicopter Crash

Most Nigerians who are already embattled are asking one question “what will these new notes do to soothe our frayed nerves? And this is understandable.

The CBN estimate puts Naira in circulation at N3.2trn which must be exchanged successfully between December 15, 2022  and January 31, 2023, separated by 33 working days and there are 5,158 commercial bank branches in Nigeria.

This means that more than N86bn in cash must be exchanged daily across the country.

Source: businessdayng
Tags: nairaNigeriaThe Naira rebrand farce and unwarranted pain of living or doing business in Nigeria
No Result
View All Result

Highlights

FDI Rises to 3-Year High as Reforms Boost Investor Confidence

Togo is Flexing its Unrivaled Maritime Power

Parliament Expresses Grief Over Death of Ministers, MP and 6 Others in Military Helicopter Crash

GSE Composite Index Up 46.51% YTD as Market Capitalization Hits GHS 147.91 Billion

Global Financial Bias Costs Africa $75 Billion Annually

GFA President.Set to Visit Gold Stars, Asante Kotoko, and Police Ladies to Strengthen CAF Campaigns

Trending

Features

Foreign Capital Inflows Into Banking Sector Hit Five-Year High in 2024

August 7, 2025

Foreign Capital Inflows Into Banking Sector Hit Five-Year High in 2024 Foreign capital inflows into Nigeria’s banking...

Electricity is Getting Cheaper Across Africa

August 7, 2025

Summary of Events Following Confirmation of Deaths of Defence and Environment Ministers, Six Others in Military Helicopter Crash

August 7, 2025

FDI Rises to 3-Year High as Reforms Boost Investor Confidence

August 7, 2025

Togo is Flexing its Unrivaled Maritime Power

August 7, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.