.GodwinIEmefiele: We’ve collected N1.9trn old naira notes so far — N500bn more to go | TheCable
The bank on Sundayfor the swap of the old notes for new ones at the commercial banks from January 31, 2023 to February 10.
“Ordinarily, when CBN releases currency into circulation, it is meant to be used and after effluxion of time, it returns to the CBN thereby keeping the volume of currency in circulation under the firm control of the CBN.“So far and since the commencement of this program, we have collected about N1.9 trillion; leaving us with about N900 billion.
“We deployed all our staff, particularly the Assistant Directors, Deputy Directors and Directors· in Abuja to proceed to all CBN branches Nationwide to join the mass mobilization campaign and monitoring programs, working with the Deposit Money Banks , agents and our Branch controllers across the 36 states of the Federation. This is meant to ensure compliance with all our guidelines already issued for smooth implementation of the program.
“Aside from those holding illicit/ stolen Naira in their homes for speculative purposes, we do aim to give all Nigerians that have Naira legitimately earned and trapped, the opportunity to deposit their legitimately trapped monies at the CBN for exchange.”Emefiele thanked President Muhammadu Buhari, who he described as an “incorruptible leader”, for approving the naira redesign programme.
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