The emir of Katagum, Umar Kabir II has tasked the Central Bank of Nigeria (CBN) to ensure increased circulation of redesigned Naira notes to all nooks and crannies of the country before the January 31st deadline.
The emir said this when he received a delegation of the CBN at his palace on a courtesy visit on Saturday.
Kabir II warned that failure to release the quantity of the new notes required to be in circulation may plunge people into hunger and destitution.
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The emir said that the policy is not new and nations of the world change their currencies almost every decade so as to improve their economies.
He assured the CBN of his determination to summon all his district heads with a view to ensuring that the apex bank’s deadline is well communicated to their subjects.
Speaking, the Director of Medical Services of the CBN, Dr Abdulkadir Jibrin informed the emir that the Central Bank of Nigeria after wide consultation reviewed the policy and will now exchange old notes with new ones for low-income earners.
redesigned naira notes.
