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The Central Bank of Nigeria has reemphasised the need for Nigerians to handle the new naira notes with dignity as strict consequences await those mishandling the currency.
Speaking at a sensitisation, enlightenment and bank fair programme held in Osogbo, Osun state on Thursday, ahead of the introduction of the redesign notes, the CBN’s Director of Corporate Communications, Mr, Osita Nwanisobi, said the Naira is a symbol of national pride and must be handle with care.
“As you all may be aware, the Central Bank of Nigeria, riding on internationalbest practice and Section 2 (b) of the CBN Act 2007, which stipulates currency management as one of its key functions, has announced the plan to redesign,produce, release, and circulate the new series of three banknotes, out of the existing eight banknotes, comprising N200, N500, and N1000 denominations, respectively, effective 15th December 2022; after its launch by President Muhammadu Buhari.”
“The Real Sector Support Facility (RSSF) through Differentiated Cash Reserve Ratio (DCRR), where disbursements to 426 projects across the country stood at N2.10 trillion as at September 2022; and the 100 for 100 Policy on Production and Productivity (PPP) with cumulative disbursement of N93.39 billion to 62 projects within the aforementioned period. Others include the Tertiary Institutions Entrepreneurship Scheme (TIES), which has recorded total disbursement of N332.43 million; the Healthcare Sector Intervention Facility (HSIF) with cumulative disbursement of N130.54 billion for 131 projects, comprising 32 pharmaceuticals, 60 hospitals, and 39 other services.”
“This year’s CBN Fair was unique because it was informative and well articulated on all the bank’s policies especially on the newly introduced electronic Naira and the plan to redesign some of the bank’s notes”.
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