Naira Redesign Has Combated Banditry, Ransom-taking – CBN

The Central Bank of Nigeria has disclosed that the recent redesign of some denominations of the naira has supported security agencies in combating banditry and ransom taking in the country.

Besides, the apex bank noted that the policy has led to relative stability in the exchange rate, adding  that the policy has started strengthening macroeconomic fundamentals, moderating inflation and upscaled financial inclusion rate.

The acting director, Corporate Communications Department, CBN, Dr. Abdulmumim Isa, disclosed this during the special day of the CBN at the ongoing Enugu International Trade Fair.

Isa, who was represented by   Mr. Imoh Esu, an assistant director, reiterated that the policy which was approved by President Muhammadu Buhari was in the overall interest of the country and the economy.

He urged Nigerians to embrace alternative payment channels such as eNaira, USSD and other internet banking facilities.

Isa said Nigeria cannot afford to be left behind in the global financial ecosystem and assured that the CBN team was on hand to attend to all enquiries relating to how best they can serve through their intervention schemes.

He disclosed that CBN has continued to seek creative ways to ensure that Nigeria takes full advantage of its opportunities and benefits.

Earlier, the president of ECCIMA, Barr. Jasper Nduagwuike,   had commended CBN for their attending the fair.