The Central Bank of Nigeria (CBN) has replied the Minister of Finance, Budget and National Planning, Zainab Ahmed, claiming that it followed due process as far as redesigning three naira notes is concerned. SaharaReporters had reported that Nigeria's apex Bank on Wednesday, announced its plan to redesign some naira notes – a decision that has so far received backlashes nationwide. The CBN Governor, Godwin Emefiele, announced the plan in press conference and told journalists that the new design notes would be effective from December 2022.
October 29, 2022SaharaReporters had reported that Nigeria's apex Bank on Wednesday, announced its plan to redesign some naira notes – a decision that has so far received backlashes nationwide.
The CBN Governor, Godwin Emefiele, announced the plan in press conference and told journalists that the new design notes would be effective from December 2022. “We were not consulted,” she said. “It was an announcement that we heard. Part of the reasons that was advocated is that it is one of the ways to mop up the liquidity to manage inflation.
Reacting to the comment, CBN Spokesman Mr. Osita Nwanisobi, said expressed surprise at the minister’s claim, stressing that the CBN remains a very thorough institution.
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