From Ibrahim Sidi Muh’d, Gusau
The Central Bank of Nigeria (CBN) has in its continuous awareness campaign urged business communities of Gusau central market on the need to deposit old naira notes into their accounts before January 31.
Speaking at the event, the Branch Comptroller, Malam Buhari Abbas, said replacement of the old currency notes was necessitated by the need of economic imprisonment in the country.
According to the Comptroller, it is the responsibility of the Central Bank of Nigeria on the review of the economic situation and other social factors to advice government on the desirable policies necessary to address socioeconomic problems affecting the nation.
He further noted that, considering the technological development, inflationary rate, financial crimes, insecurity among others were the factors that compelled the CBN to make some changes on the Nigerian legal tender.
The naira notes of 1000, 500 and 200 will facilitate the eradication of fake currency in circulation and achieve steady transfer into cashless policy in the country.
Abbas called on the general public to accept the cashless policy as it bring more sanity to the economy, as security give higher contribution in the distraction of financial policies.
Never miss a moment! Get the stories shaping Nigeria, delivered straight to your phone. Follow Peoplesdaily Newspaper on WhatsApp for breaking news, exclusive reports, and the headlines everyone will be talking about, before anyone else.
