FAKE NAIRA NOTES IN CIRCULATION
A former Deputy Governor of the Central Bank, Mr. Obadiah Mai–Lafia has raised alarm that twenty percent of the naira notes in circulation is fake.
Mr. Mai-Lafia announced this at a three-day public hearing of the 2017 budget organized by the National Assembly in Abuja.
Mr. Mai-Lafia warned that unless the Federal Government took effective step to get them out of circulation, the fight against inflation would not yield the desired result.
He acknowledged that the present administration inherited the recession Nigeria was experiencing but advised the Federal Government to be soft on taxation and instead aim for diversification of the economy.
More Stories
DEPOSITORS FRUSTRATED AS POOR NETWORK CRIPPLE BANK SERVICES
REPORTER: UCHE NDEKE Commercial banks in Awka, the Anambra State capital, have continued to witness high patronage by customers who...
ABIA STATE GOVT CONFIRMS DEATH OF PDP GUBER CANDIDATE
REPORTER: LAWRENCE NWOKEDI Governor Okezie Ikpeazu of Abia State has confirmed the death of the Peoples Democratic Party PDP governorship...
FIRE GUTS MOBILE PHONES PLAZA IN AWKA
REPORTER: NDU NWANNAH Fire has gutted a popular Mobile Phones Plaza on Zik Avenue, near the Eke Awka Market Roundabout....
NEW NAIRA NOTES: EBONYI RESIDENTS DECRY SCARCITY AT BANKS, URGES CBN TO INTERVENE
REPORTER: AMECHI ODO Bank Customers have expressed frustration over their inability to withdraw money from the Automated Teller Machines ATMs)...
CBN REACTS TO SCARCITY OF NEW NAIRA NOTES IN ANAMBRA
REPORTER: UCHE NDEKE The Central Bank of Nigeria (CBN) says it is monitoring the activities of commercial banks and will...
ANAMBRA RESIDENTS LAMENT BANKS FAILURE TO DISPENSE NEW NAIRA NOTES
REPORTER: UCHE NDEKE Residents of Awka, the Anambra State capital are still worried about the inability of commercial banks to...