Reps Issues Directive To CBN On Old And New Naira Notes

Reps Issues Directive To CBN On Old And New Naira Notes …C0NTINUE READING HERE >>>

The House of Representatives have asked the Central Bank of Nigeria (CBN) to withdraw old currency notes and increase the issuance of new naira notes.

In response to a motion of urgent national significance put forth by Adam Victor Ogene (LP, Anambra), Reps asked the CBN to increase the supply of newly minted N200, N500, and N1,000 notes, while also initiating a phased removal of the old currency from circulation.

The House also requested that the Central Bank of Nigeria instruct commercial banks to distribute a greater number of new notes to their customers while gradually withdrawing…

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