Over N500bn Old Naira Notes Not Yet Returned To CBN – Bawa

Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa has disclosed that over N500bn of old Naira Notes are yet to be returned to the Central Bank of Nigeria, CBN, despite the fact that they are no longer considered legal tenders.

Appearing on Channels TV’s Politics Today, Bawa also revealed that the CBN has printed N500 billion new naira notes which are in circulation.

 He said;

“The only option politicians have now is to buy votes, as BVAS will do a lot of wonders. They want to maximize the numbers they have. That is the intelligence we have and I am happy that all the security agencies are working to make sure the election is successful.

“Some people stashed money for the purpose of the election. Even as of today we still have over N500 billion old naira notes that are yet to be returned to the CBN. And the CBN has printed N500 billion new naira notes which is in circulation.

“We have our own way of getting such Intel and God willing we are going to use it maximally this time around.”