– The naira in circulation would be reduced soon by the CBN for the effectiveness of cashless policy<\/p>\n
– CBN also said it has made arrangement for more access to loans to local farmers and entrepreneurs<\/p>\n
– The apex bank disclosed it is also working hard on taking out dirty notes and would sanction anyone that defaces the naira<\/p>\n
The Central Bank of Nigeria (CBN) on Thursday, June 27, said it will soon reduce the amount of naira in circulation so as to make cashless policy more effective.<\/p>\n
Chuks Okoroafor, the apex bank branch controller in Cross River state disclosed this during a two-day CBN fair themed Promoting Financial Stability and Economic Development, Daily Trust reports.<\/p>\n
The branch controller also said that they put different initiatives in place to make more money available for people to develop their businesses.<\/p>\n
He asked entrepreneurs, farmers, and individuals to come up with good business ideas so they could access the different funds the CBN has arranged to help Nigerians.<\/p>\n
Okoroafor mentioned that the CBN frowns so much at the way people poorly handle the naira notes, calling on everyone not to deface the notes.<\/p>\n
The CBN also said that the bank is working seriously to mop up dirty, defaced and torn naira currencies in the country.<\/p>\n
The bank official urged Nigerians to call CBN\u2019s officers when they have complaints with their local bankers so that issue can be addressed.<\/p>\n
\u201cWe want Nigerians to know that CBN is available for all Nigerians to access information on their rights or know what funds they can access for their benefits,\u201d he said.<\/p>\n
Recall that Legit.ng previously reported that CBN on Tuesday, April 30, called on all Nigerians to report any commercial bank rejecting dirty, defaced or mutilated naira notes.<\/p>\n","protected":false},"excerpt":{"rendered":"
– The naira in circulation would be reduced soon by the CBN for the effectiveness of cashless policy – CBN also said it has made arrangement for more access to loans to local farmers and entrepreneurs – The apex bank disclosed it is also working hard on taking out dirty notes and would sanction anyone […]<\/p>\n","protected":false},"author":62,"featured_media":7810,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[328,503,422,314],"class_list":["post-12046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-bank","tag-cbn","tag-farm","tag-finance"],"yoast_head":"\n