Nigerians are advised to take old notes to banks to enable them to withdraw the new banknotes once circulation begins, as the naira notes currently in use will remain as legal tender till 31st January 2023.
The bureau also intends to release a report on automotive gas oil price watch as well as premium motor spirit price watch for November this year.The federal government says the Second Niger Bridge will open to traffic on December 15.Jimoh Olawale, federal controller of works in Delta, had said that the bridge would be open for only 30 days.
The aim is to reduce the amount of physical cash circulating in the economy and encourage more electronic-based transactions.The development came 24 hours after Brent crude hit a 2022 low of $77 a barrel. Nigeria’s crude oil production increased in November to an average of 1.18 million barrels per day from 1,014,485 bpd in the previous month.