CBN SAYS MARKET FORCES WILL DETERMINE PROPOSED CURRENCY RESTRUCTURING

CBN GOVERNOR SANUSI LAMIDO SANUSI

Central Bank of Nigeria says market forces would decide its proposed currency restructuring policy. At a media briefing on Monday the director of CBN corporate communication department Ugochukwu Okoroafor said the bank only wanted to manage the level of currency in circulation by the plan.

Okoroafor said the proposed restructuring would save CBN Seven billion Naira from printing smaller currency denomination, adding that the bank would ensure that the proposed Naira note are not easily counterfeited by introducing flawless security features in it.

He debunked the allegation that Forty billion Naira would be used by the CBN to print the new note and promised that the bank would publish the amount used in the past on printing new notes.

Masquerade234 also gethered that since the news of the proposed restructuring got out the CBN is been finding it difficult to put its house in order and some directors are been witch hunted for leaking the information to the press, while their are accusations that some of the directors are at logger head over the firms to be awarded the contract.
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Masquerade234 searchlight is seriously beaming at the headquarters of CBN and as we unravel anything you will surely be the first to know.