Central Bank of Nigeria headquarters, Abuja
By Our Reporter
The Central Bank of Nigeria (CBN) has debunked a misleading report misquoting the Governor, Mr. Godwin Emefiele, as attributing the current challenge in the distribution of the newly redesigned naira banknotes
to a shortage of printing materials at the Nigerian Security Printing and Minting Company Plc.
The apex bank said that at no time did the CBN Governor disclose this during his presentation to the National Council of State at its meeting on Friday, February 10, 2023.
In a statement made available to NATIONAL WAVES and signed by Mr. Osita Nwanisobi Director, Corporate Communications of CBN, it said
“For the records, what Mr. Emefiele told the meeting was that the NSPMC was
working on printing all denominations of the Naira to meet the transaction needs of Nigerians.
“While the CBN appreciates the concerns shown by all stakeholders about the distribution of the Naira, we are alarmed at the extent to which vested interests are attempting to manipulate facts and pitch the public against the Bank”
“For the avoidance of doubt, the CBN remains committed to performing its
monetary policy functions, as stipulated in the CBN Act, 2007, as amended”
“The CBN stated that the NSPMC has the capacity and enough materials to
produce the required indent of the Naira.
“The Bank, therefore, wishes to appeal to the public to disregard the said report and exercise more restraint, even as we work assiduously to increase the circulation of the new notes in the country”
In a related development, the CBN also reacted to a misleading voice note trending in social media alleging that
the CBN planned to shut down some banks, particularly in a particular geopolitical region of the country.
It said “we wish to state unequivocally that there is no such plan and that the claims are illogical and do not comply with the workings of the Nigerian banking system”
“The public is therefore advised to ignore such recordings as they do
not represent the policy thrust of the CBN and are only the desperate attempts of persons bent on inciting the public against the Bank”
