President Muhammadu Buhari on Wednesday morning unveiled the new naira notes in Abuja.
Team@orientactualmags.com learned he did this before the federal executive council (FEC) meeting began at the state house, Abuja on Wednesday.
Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele attended the unveiling ceremony.
Emefiele had while talking to journalists after the ceremony described as untrue insinuations that the early unveiling of new notes was done to target some people.
It will be recalled that the apex bank had on October 26 announced that circulation of the newly redesigned N100, N200, N500 and N1000 naira notes would begin on December 15.
CBN governor, Mr Godwin Emefiele had added that the move was to counter terrorism financing, hoarding of banknotes by members of the public, with statistics showing that over 85 per cent of monies in circulation were outside the vaults of the commercial banks.
He urged Nigerians to disregard such insinuation while promising that the CBN will intensify the monitoring process and interrogate the process of withdrawals.
There will according to him be heavy restriction on the volume of cash that people can withdraw over the counter, the Economic and Financial Crimes Commission, EFCC, he added, will also help to monitor the purpose of any heavy transactions. He asserted that the new naira notes can never be counterfeited, adding that to forestall such a thing, the CBN will redesign the naira notes after every five to eight years.
He noted that following the unveiling of the new naira notes which begins circulation today, the CBN ‘is now more determined to make Nigeria a cashless economy’-Team@orientactualmags.com
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