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CBN: We Can’t Account For Quantity Of New Naira Notes Printed

The Central Bank of Nigeria has disclosed that it doesn’t know the quantities of new naira notes it printed and released for circulation.

Aisha Ahmad, the CBN Deputy Governor, Financial System Stability, disclosed this on Thursday while addressing the House of Representatives over the latest controversial policy by the apex bank.

The cash withdrawal policy among others, sets limits to cash withdrawals at the Deposit Money Banks and other financial institutions.

Recall that, on two occasions, the House had summoned the governor of the CBN, Godwin Emefiele, who had failed the appointments with the lawmakers.

Information Nigeria also reported that CBN informed the House that Emefiele would not appear before the House in person, rather Ahmad would lead the Committee of Governors before the lawmakers.

READ ALSO: Cash Withdrawal Limit: Emefiele Having Health Challenges, Deputy To Heed Reps. Summons – CBN

According to Ahmad, the CBN observed that about 94 and 82 per cent of personal and corporate transactions, respectively, had been electronic, meaning that majority of Nigerians would not be adversely affected by the reviewed limits.

The CBN deputy governor also told the lawmakers that the apex bank introduced the new policy in phases, with successes recorded in some of the states where it was launched.

Sada Soli, a lawmaker, in the course of the quizzing the CBN deputy governor, raised concerns over the non-availability of the new notes, days after it was were released to the public and asked her to disclose the quantities of new notes printed.

But responding to the question, the CBN deputy governor said she does not know the quantities of notes printed by the apex bank.


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