CBN governor cancels Naira redesign policy, E-Naira and other Emefiele projects..

    The newly appointed Governor of the Central Bank of Nigeria, Olayemi Cardoso, appears to have decided against continuing certain financial projects initiated by his predecessor, Godwin Emefiele.


    Notably, Cardoso indicated the discontinuation of the N63 billion Centre of Excellence program, the Anchor Borrowers’ Program (ABP), the eNaira initiative (a financial inclusion instrument), and the currency redesign policy aimed at preventing banknote counterfeiting and vote buying during elections.

    Cardoso cited fraud in the ABP and expressed the intention to discontinue state engagements. The new administration aims to refocus on the central bank’s core mandates of ensuring monetary and price stability, fostering a sound financial system, and controlling the exchange rate.

    Visit to Read More NEWS.