CBN has not done well Enough to circulate new Naira Notes- JH

The Circulation of the newly redesigned Naira notes to replace the old ones is a policy that needs a shot in the arm to actually succeed.

Guest on the Journalists Hangout Programme on TVC News anchored by Ayodele Ozugbakun, said the way the Central Bank of Nigeria has gone about the matter leaves a lot of questions than answers.

Olabisi Deji-Folutile while speaking on the matter said the issue is so confusing that one cannot really say that the Central Bank of Nigeria is serious about the matter.

She added that her experience visiting the banks over the last few days has shown that the Central Bank either does not have enough notes for circulation or is not serious about the matter with a deadline of less than three weeks looming.

She disclosed that people are still being paid the old notes across the Counter neither are the Automated Teller Machines also dispensing them.

She expressed her surprise that the new notes is not in circulation now that its just a few weeks away from the deadline of replacing the old notes with the notes.

She said that she is certain that with the volume of old notes still in circulation, many Nigerians will be left with useless old notes by the end of the month with little or no new notes in circulation.

Speaking on the issue, Emeka Madunagwu, went down memory lane to the time during the Ibrahim Babangida regime when a Civil Servant reportedly committed suicide after failing to retrieve his money due to change in currency.

Mr Madunagwu also asked for the whereabouts of the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, whose absence he said is debilitating to the realisation of the policy’s core objectives.

He added that on the few occasions where he had the opportunity of seeing the notes, people were not willing to even hand it over.