Emefele made the call in Abuja on Tuesday before the House of Representatives fact-finding ad hoc committee on the scarcity and the deadline for the old Naira notes.
He said the CBN had deployed its entire staff to go to their locality to sensitise them on the new naira notes, adding that this had achieved a success of over 75 per cent. ”The redesigned naira notes and CBN’s cashless policy has moderated inflation in the country and also curtailed the activities of kidnappers and bandits.
Emefiele said in 2022, the total currency from CBN was N3.2 trillion and more than N2.7 trillion was out of the banking system making the apex’ banks mandate difficult. ”The total amount of money with the CBN was about N500 billion,” he said, adding that the CBN work would not be effective with such an amount out of the reach of the apex bank.
”We invited him twice and he is finally here. This is a victory for our democracy, the economy and the people of Nigeria.This according to him, bothers the concerns raised by Nigerians on the policy of naira redesigning and moping out of the old naira notes.