Economy
THE National Orientation Agency (NOA) in collaboration with the CBN have embarked on public awareness campaign on the naira notes redesign across the 13 local government areas of Ebonyi.
The News Agency of Nigeria (NAN) reports that the team had taken the campaign to Traditional Institutions, Churches, Mosques, schools and market places in the state.
The three redesigned denominations of N1, 000, N500 and N200 banknotes were unveiled on Nov. 23, 2022, by President Muhammadu Buhari.
Dr Desmond Onwo, NOA’s Director in the state said on Wednesday in Abakaliki, that the essence of the campaign was to properly educate the general populace on the new currencies.
Onwo said there was the need for the reorientation of Nigerians in order to promote cashless policy and checkmate illegal transactions among others.
“The idea of the new currencies was to reduce fake currencies and check expenditures among citizens.
“We urge the general public to deposit their old Naira notes in their bank accounts before the deadline of Jan 31,’’ he advised.
Mrs Anthonia Ekezue, the Central Bank of Nigeria (CBN) representative, said that the newly introduced currencies were aimed at stampeding counterfeits, reduce expenditures as well as tracking illegal transactions.
“The benefits of the currency redesign will help to control inflation as the exercise will bring the hoarded currency into the banking system, thereby, making monetary policy more effective.
“It will also assist in the fight against corruption as the exercise will rein in the higher denomination used for corruption, and the movement of such funds from the banking system can be tracked easily.
“Accept the new denominations and remember that the apex bank will not go back on the new currency policy. The old currencies will cease to be a legal tender by Jan. 31,’’ she said.
Ekezue urged traditional rulers to carry out the message and ensure that the people accept it as our national identity.
The Chairman of South-East Traditional Rulers, His Royal Majesty, Chief Charles Mkpuma urged CBN to ensure the new currencies were in circulation.
Mkpuma said that he had only seen N1, 000 of the new currencies since it was introduced.
“As we speak, I do not know how the N200 and N500 look like. So, it is very necessary to ensure that the new currencies are in circulation so that people can embrace it.
“Well, I have heard all you have said and I promise to carry out the message to the traditional rulers and I believe that the campaign will get to the rural communities,’’ he assured.
Also speaking, Rev. Peter Chukwu of Abakaliki Catholic Diocese commended the Federal Government for redesigning the currencies.
Chukwu appealed to the government to allow both the new and old currencies to be in circulation. (NAN)
E.C
Tags: CBN Ebonyi NOA
