The Central Bank of Nigeria has revealed says five hundred million pieces of the new notes were ordered by the apex bank.
The Deputy Governor of the Central Bank of Nigeria in charge of Financial Stability, Aisha Ahmad who appeared before members of the house to brief them on the new monetary policies, however did not answer questions on how much was spent to print the new Naira notes.
Ahmad who was representing the CBN governor, said the apex bank’s policy pronouncement of December 5 is a continuation of the cashless policy launched about 10 years ago , adding that the policy had no political considerations.
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The lawmakers while taking turns to express their fears on issues relating to Inflation, power supply, Internet fraud , fake currency and job losses.
The speaker of the house, Femi Gbajabiamila further drew the attention of the CBN Deputy Governor to section 8 of the CBN Act ,which compels managers of the apex bank to brief the National Assembly on its monetary policies at least twice a year.
Gbajabiamila says this section has been consistently flouted by the Apex Bank.
Editor Oloyede Oworu
