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Naira redesign: CBN pledges to protect rural Nigerians

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 Naira redesign CBN pledges to protect rural Nigerians
Nigerian Naira

The Central Bank of Nigeria has pledged to protect Nigerians in the unbanked, underserved and rural areas as it plans to redesign the naira.

In a statement signed by the CBN’s Director of Corporate Communications, Osita Nwanisobi, the apex bank said that it had been collaborating with relevant agencies and other stakeholders in the financial system to ensure that vulnerable citizens were not disenfranchised.

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

 

READ ALSO:Black Market Dollar (USD) To Naira Exchange Rate Today, Monday, 14th November 2022

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.

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