Utibe Ekoson
President Muhammadu Buhari finally unveiled the re-designed Naira Notes as proposed by the Central Bank of Nigeria (CBN).
The unveiling yesterday, marks the first time in 19 years, Nigeria will be redesigning its currency notes.
At a briefing after the ceremony before the Federal Executive Council meeting, the CBN governor debunked insinuations suggesting that the early unveiling of the new notes is a means to target some Nigerians.
Mr Emefiele appealed to members of the public, urging them to desist from making such speculation, adding that there is no need to perpetuate any such information.
According to him, the CBN will intensify the monitoring process and interrogate the process of withdrawals.
Emefiele maintained that there will be heavy restriction on the volume of cash that people can withdraw over the counter, as it works with the Economic and Financial Crimes Commission (EFCC) to monitor the purpose of any heavy transactions.
Following the unveiling of the new notes which begins circulation today, the CBN governor announced that the apex bank is now more determined to make Nigeria a cashless economy, as in other climes.
During the ceremony which held before the council meeting, President buhari underscored the importance of re-designing the new naira notes. He explained that it will aid the country address the issue of Illicit financial flows, corruption, improve the nation’s economy, as well as ensuring advancement in the value of the naira.
