BREAKING: Nigerian Senate Backs #CBN On #Naira Redesign—-The Senate on Wednesday resolved to provide legislative support for the policy of the Central Bank of Nigeria (CBN) to redesign the naira.
While the lawmakers supported the move to redesign the naira, they however said the deadline of January 31st, 2023 to pay all cash in circulation into banks was too short.
They called for aggressive enlightenment on the part of the CBN, especially in the rural areas to ensure that all Nigerians are made aware of the new policy.
They also urged the CBN to put measures in place in the face of ubiquitous Financial Technology (FinTech) to ensure that the local populace are able to bank their cash with ease within the stipulated time.
They said such a measure would also ensure the security of the local population who might be waylaid and dispossessed of their cash by criminal elements like bandits and insurgents.
Details Shortly…
