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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Excess crude account down by $7bln to $5bln

Posted on 18 July 2013

Central Bank of Nigeria (CBN) Governor Sanusi Lamido Sanusi has said for Nigeria to beat the ingenuity of counterfeiters, there is a need to redesign the Naira. Sanusi also revealed that the Excess Crude Account is down by $7bn from $12billion to $5billion.
Sanusi told the Jones Onyereri- headed House Committee on Banking and Currency yesterday that the “ noise” about the 5000 Naira notes was the reason the CBN shelved the plan, which, according to him, should be done every seven to eight years………………………………………..Full Article: Source


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