Governor of the Central Bank of Nigeria, Godwin Emefiele on Sunday, revealed that part of the reasons the Federal Government decided on the redesign of
currency denominations was the fact that N2.7trillion was lying idle in people’s homes prior to 2015 when the Buhari administration came on board.
“N2.7 trillion was held permanently in people’s homes,” Emefiele stated after he paid a visit to President Muhammadu Buhari in Daura, Katsina state, where both parties approved of a ten day extension for old currency swap. He said since the commencement of the currency redesign and other monetary programmes, about N1.9 trillion have been collected, leaving us with about N900 billion .
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