CBN Set To Take Action Against Nigerians Using Naira As Money Bouquet

The Central Bank of Nigeria, on Friday, warned citizens against the abuse of Naira notes and listed all forms of Naira abuse.

Naija News reports that the apex bank made this known in a flier shared on its Twitter handle and urged the public to report the abuse of Naira notes.

According to CBN, forms of abuse includes spraying, selling, money bouquet, squeezing, and defacing.

It also provided toll-free hot-lines through which the apex bank could be reached to report such activities

The post reads: “It is your civic duty to protect the naira. Report naira abuse today.”

Council Of State Takes Stand On Cashless Policy

Meanwhile, the Council of State meeting presided over by President Muhammadu Buhari, has on Friday given their support to the Naira redesign policy with the condition that the Central Bank of Nigeria (CBN) governor, Godwin Emefiele prints new Naira notes or recirculate the ones so as to bring respite to the suffering in the nation.

The meeting, which lasted for more than four hours at the Council Chambers, Presidential Villa, Abuja, had in attendance former heads of state and president Gen. Yakubu Gowon (retd), Gen. Abdulsalami Abubakar (retd) and Goodluck Jonathan, while former President, Olusegun Obasanjo joined the meeting online.

Two former Chief Justice of the Federation, Alfa Belgore and Mahmud Muhammad, were also in attendance.

Briefing State House correspondents at the end of the meeting, Governors of Taraba State, Darius Ishaku; Lagos, Babajide Sanwo-Olu, and the Attorney General of the Federation and Minister of Justice, AGF Abubakar Malami, said generally the policy was accepted by members but raised concerns about the implementations.