Aisha Ahmad, the Central Bank of Nigeria's deputy governor for financial system stability, admitted before the House of Representatives that she had no idea how many notes were produced during the most recent naira redesign.
THE CBN RECENTLY RELEASED New N200, N500, and N1,000 notes due to fears that the newly designed denominations will be hard to find in circulation.
In response to inquiries from members of the House, Ahmad, speaking on behalf of CBN Governor Godwin Emefiele, claimed she could not determine the precise sum and quantity of notes produced. The vice governor of the CBN stated that she did not want to provide a false statistic.
As a result of several people being offended by her comments, the room grew noisy.
Some of them went back to the inquiries.
Later, the deputy governor of CBN said that 500 million mints had been ordered.
Ahmad, however, evaded inquiries about the cost of redesigning the naira and if the National Assembly had approved that sum.
Details to come...