New Notes: We Are Disappointed In Banks – Emefiele

The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele says he is disappointed with the way things, noting that new naira notes are being used at parties.

He said this showed that commercial banks had breached the directives and guidelines given to them by the CBN.

Emefiele made the remarks while shedding light on the new currency policy before the House of Representatives Ad-hoc Committee on Tuesday.

• Understanding CBN’s cashless policy

He said the apex bank had re-enforced its resolve to involve all the security and anti-corruption agencies in the arrest of saboteurs.

He added that the benefit of the e-economy had started to manifest as inflation was not rising and no stagnation in the economy.

He further noted that kidnappings for ransom and other criminalities had been slightly curbed as beneficiaries of the criminal acts found it difficult to collect or move their illicit monies from their victims or their (the victims’) families.

He acknowledged that although some Nigerians may be affected by the bottlenecks, things would get better with time and more stringent measures being taken.

He however informed that the apex bank had deployed 30,000 agents to attend to Nigerians that are disadvantaged because of their locations and nature of businesses to have access to the currency swap.