Naira Redesign: CBN Gives Update About Nigerians Living In Rural Areas

Posted by Thandiubani on Mon 14th Nov, 2022 - tori.ng

Osita said that some progress had been as there had been increased currency deposits across banks and other financial institutions.

The Central Bank of Nigeria (CBN) has given an update to people living in the rural areas concerning its new policy to redesign the naira.

According to CBN, it will protect Nigerians in rural areas to ensure they are not neglected.

The CBN’s Director of Corporate Communications, Osita Nwanisobi, made this known in a statement where he noted that the apex bank has been collaborating with relevant agencies and other stakeholders in the financial system to ensure the involvement and safety of vulnerable citizens.

Osita said that some progress had been as there had been increased currency deposits across banks and other financial institutions.

The statement read, “The CBN remains committed to the seamless implementation of the initiative to ensure the achievement of its objectives to preserve the integrity of the local legal tender by reducing the significant amount of cash outside the banking system and its use in criminal activities, curtail counterfeiting, and promote financial inclusion, amongst others.

“Whilst noting the progressive increase in financial access points and alternative banking channels over the years (electronic/internet banking, mobile apps, ATM, Cards/PoS, eNaira, agent banking, etc.), the Bank acknowledges that these may not be evenly distributed across all geopolitical zones and in some rural areas.”