President Muhammadu Buhari has unveiled the new Naira notes before the federal executive council (FEC) meeting at the state house, Abuja.
Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele was in attendance during the unveiling ceremony. Meanwhile, at a briefing after the ceremony before the Federal executive council meeting, the CBN governor debunked insinuations that the early unveiling of new notes is a means to target any Nigerian.
READ ALSO: Senate Summons CBN Governor, Godwin Emefiele, As Naira Crashes To N700/$1
Mr. Emefiele appealed to members of the public 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. He maintained that there will be heavy restrictions on the volume of cash that people can withdraw over the counter, as it works with the EFCC to monitor the purpose of any heavy transactions. The redesigned currency note he asserts can never be counterfeited, adding that to forestall such occurrence he states that the CBN redesign the notes after every five to eight years.
READ ALSO: See The Newly Redesigned Naira Notes
Following the unveiling of the new note which begins circulation today, the CBN governor announced that the CBN is now more determined to make Nigeria a cashless economy, as in other climes. Following the unveiling of the new notes, Nigerians have come out to drag president Buhari and the CBN governor, Emefiele, saying that they just upgraded the N10, N20, and N50 notes. Others have also called out the government saying that the president and the CBN governor should be arrested for this. See their reactions;
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Photo Credit: Getty