NEWLY DESIGNED NAIRA NOTES: AN UNKNOWN NUMBER OF NOTES HAVE BEEN PRODUCED - EMEFIELE'S REPRESENTATIVE

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Agency Report

Aisha Ahmad, the Central Bank of Nigeria’s Deputy Governor for financial system stability, has admitted to the House of Representatives that she has no idea of how many notes were produced during the most recent naira redesign.

The new N200, N500, and N1,000 notes were recently introduced by the CBN due to fears that the newly designed denominations would be hard to find in circulation.

In response to inquiries from members of the House, Ahmad, who was speaking on behalf of CBN Governor Godwin Emefiele, said she was unable to determine the precise sum and number of notes printed.

The Deputy Governor of the CBN stated that she did not want to provide a false statistic.

As a result of some people being offended by her statement, the room grew noisy.

Some of them went back to the inquiries.

Later, the CBN deputy governor claimed that 500 million mints in all had been ordered.

Ahmad, however, evaded inquiries about the cost of the redesign of the naira and if the National Assembly had approved that sum.