Naira redesign: CBN solicits Bauchi Emir’s support in awareness creation

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Samuel Luka, Bauchi

Ahead of the 31st January deadline for the redesigned N200, N500 and N1000 notes to seize been accepted as a legal tender, the Central Bank of Nigeria has solicited for support of Bauchi Emir, Alhaji Dr Rilwanu Sulaiman Adamu to help in sensitizing his subjects to ensure that monies in their custody are taken to bank for deposit before it becomes too late.

The Director, Medical Service Department of the Apex bank, Dr. Abdullahi Jibrin who led other officials of the bank to the Emir’s palace on a visit Saturday, said the aim of the initiative was to mop up too much money that is been kept outside the banks by some Nigerians.

“You know, from the basic rudiments of economics, once you have too much money in the hands of people, inflation goes up. So, we want to mop up, all money should be brought back into the bank and by so doing, inflation will go down”, he said.

According to him, the CBN will take measures to ensure that henceforth, excess money is not allowed to go out.

He explained that the wisdom behind involving the fathers of the land who have access to the people at the grassroot was to help fasten the awareness campaign effort of the CBN in reaching to the people.

Dr. Jibrin added that, with the help of the traditional leaders who have subjects at different levels, ten days is more than enough for the campaign to reach to the grassroot.

“That is why we are pleading with them to partner with us so that we can reach down to the grassroot to enable us mop up the monies in their possession”, he said.

The Director, Medical Service Department of the CBN hinted that the top management of the bank have given approval that people in the rural areas who have 10,000 and below can have it exchanged with the new Naira notes.

“Remember, what we are doing now is asking people to take their monies to their account, we are not exchanging, so, the only leeway given now is for ten thousand naira and below for the downtrodden masses, people having ten thousand or less, that’s just the difference”, he said.

While responding, the Emir of Bauchi, Alhaji Dr Rilwanu Sulaiman Adamu, commended the federal government and the Central Bank of Nigeria for initiating various monetary policies aimed at impacting positively in the lives of the citizenry.

The Emir expressed hope that the present policy being undertaken by the CBN will help in reviving the economy of Nigeria in line with the international standard, prying Allah to make it possible for all the policies to be achieved for the overall interest of the masses.

“We pray that Allah will help us do away with any problem attached to this policy and make it possible for all the good things to come to pass”, he said.

The Bauchi Emir assured the readiness of the traditional leaders to step down the message to their subjects to enable them understand the reason behind the naira redesign.

“The initiative has been given different interpretation but thank God that we have also come realized what the policy is all about, we will inform our people that the policy was not initiated to cause any problem but to help the masses and help the economy of our country”, he said.