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Redesigned naira notes will ‘fight corruption’- CBN

Representative of CBN governor, Dutse Branch Controllerof the bank, Sa’adatu Ibrahim Aminu. Photo: Usman Mohammed

Central Bank of Nigeria (CBN) says the new naira notes “will fight corruption” in Nigeria.

The CBN Governor, Godwin Emefiele made the remark during a one-day sensitization meeting with stakeholders on the redesigned naira notes and the use of e-naira, organised by the Apex Bank in Jigawa state.

Mr Emefiele, who was represented by Rifkatu Musa Yusuf, stressed that the new naira notes of 200, 500 and 1000 where re-designed to fight corruption in Nigeria.

He advised the general public to ensure that they deposit denominations at their respective commercial banks.

There is no limit to how much a customer can deposit in their accounts, the CBN Governor assured the public.

Speaking at the meeting, the CBN Controller, Dutse branch, Sa’adatu Ibrahim said the redesigning of the said notes was approved by President Muhammadu Buhari to boost socio-economic well-being of the people.

According to her, the policy will help to control inflation, increase financial inclusion, ensure greater formalization of the Nigerian economy and “fight against corruption”.

Mrs Ibrahim pointed out that the current old naira notes will cease to be legal tender by January 31, 2023.

Also speaking, the Chairperson, market association, Alhaji Yakubu Kwaimawa promised to continue sensitizing the general public on the new currency.

The Jigawa State Director, National Orientation Agency (NOA), Alhaji Shuaibu Haruna said the agency was “fully committed” to the enlightenment of the public on federal government policies and programmes.

The stakeholders meeting was attended by traditional leaders, associations as well as traders and commercial motor-cyclists, among others.

Reporting by Usman Mohammed; Editing by Abdullahi Lamino and Tony Okerafor