The Central Bank of Nigeria has carried out sensitization campaign aimed at enlightening the public on the FG’s decision on the already redesigned currency in the country.
The CBN state branch Controller in Sokoto state, Mr. Dahiru Usman Nakazalle stated this while speaking at a market gathering on the importance of naira redesign.
Nakazalle said the market sensitization was informed following the persistent complains received by CBN on the naira redesign.
He explained that the Naira note was redesigned to address the issue of individuals who have made currency fraud their main source of income.
The branch controller stressed that People who have hidden stolen money would either find a way to change it by taking the money out or would not need it given the change in the value of the Naira.
“The currency change is also aimed at short changing the growing kidnapping and ransom industry that had eaten into the fabric of our economic and security development of the country”.
Nakazalle argued that the change would also aid in lowering the rate of inflation in the country and control the amount of money in circulation.
He added that more than eighty five percent of printed note are in the hands of Nigerians making it difficult for effective regulation of the Naira.
NASIR MALALI