CBN To Redesign Naira Notes Because BULK Of Money Remains Outside The Bank
Category: Nigeria News
The newly redesigned Naira notes are to come into use, December 15, 2022.
The CBN Governor Godwin Emefiele disclosed this at a press conference on Wednesday.
The Apex bank boss revealed that the new currencies will include the N200, N500 and N1000 notes.
He advised Nigerians to take their old notes to banks in exchange for new ones.
According to him, the bulk of the nation’s currency notes was outside bank vaults and the CBN would not allow the situation to continue.
“To be more specific, as at the end of September 2022, available data at the CBN indicates that N2.7 trillion out of the N3.3 trillion currency in circulation was outside the vault of commercial banks across the country and supposedly held by members of the public,” he said.
“Evidently, currency in circulation has more than doubled since 2015, rising from N1.46 trillion in December 2015 to N3.2 trillion as at September 2022. I must say that this is a worrisome trend that must not be continued to be allowed.”
Awon ole. Se eleyi lol kan.
ReplyDeleteWon fe fi kowo je
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Hahahahahaha! Make these people hoarding the Money share it for the poor masses to help them spend it naaaaa🤔🤔🤔
ReplyDeleteThat's a way of stealing, looting, embezzling, siphoning and covering their shady deals..
ReplyDeleteLeave the one we have..
Very good. This is to get those who stock bulk money at home to display during election. For truth, no money in the bank anymore to give out to customers due to lack of money in circulation to revolve.
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