From Lateef Dada, Osogbo
The Central Bank of Nigeria (CBN), on Thursday, disclosed that sensitization about its activities in promoting the country’s economic stability has been taken to 16 states in Nigeria.
The Director of Corporate Communications of the CBN, Osita Nwanisobi, disclosed this during the sensitisation, enlightenment and Bank Fair in Osogbo, Osun State capital.
Nwanisobi warned Nigerians not to spray, squeeze, or counterfeit the naira, saying there are consequences.
He said “you all may be aware, the Central Bank of Nigeria, riding on international best 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 new and existing currencies shall remain legal tender and circulate together until January 31, 2023, when the existing currencies shall cease to be legal tender in Nigeria.
“While Deposit Money Banks (DMBS) have been directed to immediately start returning the existing currencies to the CBN, they have also been instructed to receive the existing banknotes beyond the threshold stipulated by the Cashless Policy without charges to customers,” he added.
Nwanisobi equally noted that CBN, in a bid to promote economic growth development, conducts sensitization programmes, such as the CBN Fair annually, in virtually all states in six geopolitical zones of the country. He said, “16 states have so far been covered from January to date to create awareness on the bank’s interventions.”
He noted that the CBN Governor, Godwin Emefiele and his team are resolute in steering the ship of Nigeria’s economy to prominence saying the focus of the Bank is macroeconomic stability – which entails building a strong, stable, and resilient economy that is self-sustaining and able to weather unanticipated shocks.
The Osogbo Branch Controller, Mrs Daphne Madojemu said the programme was aimed at sensitizing Nigerians on the activities of the Bank in promoting the country’s economic stability.
She noted that 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.