The Central Bank of Nigeria, on Thursday, admitted that the ongoing scarcity associated with the naira redesign and cash withdrawal policy was not anticipated.

This came amid numerous protests and attacks on banks by angry Nigerians due to the inability to access cash for their regular transactions.

A Deputy Governor of the bank, Folashodun Shonubi, made the admission at the 22nd fellowship conferment lecture and ceremony organised by the Nigerian Society of Engineers in Abuja.

The lecture was titled, “The intricacies of the naira redesign and its benefit to Nigerians”.

He explained that contrary to public opinion, the redesign plan which has been in the works for two years was not to punish anyone but to improve the economy.

The deputy governor who stated that challenges faced were caused by a new line of business created by indigenous Nigerians, revealed that numerous benefits have been achieved which include retrieval of N2 trillion to the banking system.

He said, “As you know, Nigerians are very ingenious. And we created a whole new line of business for people that we never envisaged.


“An aspect of that is queuing, where you sell your position on the queue for money. Night crawling, where you wait till night, collect numerous cards from your friends and family and go to an ATM and empty them using different cards and then take the cash to sell.

“So it’s been a bit stressful to be honest because we did not anticipate this kind of behaviour.”

Shonubi, however, noted the necessary challenges will soon be of the past adding that the apex bank will do everything within its powers to salvage the current situation.

“I believe that sooner rather than later, the stress ongoing in relation to money would reduce,” he concluded.
https://punchng.com/new-naira-we-didnt-anticipate-challenges-cbn-admits/

Emefiele will not go free.

tinsel:
Emefiele will not go free.

Thiefnubuu will not still win
Get used to Peter Obi as your next president or drink sniper now!

CBN IS THE LAW AND THE EXECUTIONER NOW FROM THE 10TH OF FEBRUARY 2023.
LUCKILY TODAY IS FRIDAY. DO AS MUCH LEGAL BUSINESS AS YOU LIKE TODAY. TOMORROW ONWARDS, IT IS FRAUD GALORE APC STANDARDS.

From ORUNTO27.

He has gone already. OKORO said so. MUHAMMAD said so. Even NASS SAID SO.

EMEFIELE IS SUPREME.

Mumu people

EMEFIELE IS A SUCCESSFUL SERPENT IN THE GARDEN.

If you truly didn't anticipate the current problems associated with your naira redesign and cash withdrawal policy, then you lot are incompetent! You mean what we have now is the result of two years of planning!

It’s well