The Central Bank of Nigeria has promised to safeguard citizens who live in rural, underserved, and unbanked areas as it moves to reform the naira.Information Guide Nigeria

The CBN’s Director of Corporate Communications, Osita Nwanisobi, signed a statement on behalf of the central bank in which it claimed that it had been working with appropriate organizations and other financial system players to prevent the disenfranchisement of vulnerable individuals.

The bank claimed that some progress had been made since currency deposits at banks and other financial institutions had increased.JAMB Result

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The statement read, “The CBN remains committed to the seamless implementation of the initiative to ensure the achievement of its objectives to preserve the integrity of the local legal tender by reducing the significant amount of cash outside the banking system and its use in criminal activities, curtail counterfeiting, and promote financial inclusion, amongst others.

“Whilst noting the progressive increase in financial access points and alternative banking channels over the years (electronic/internet banking, mobile apps, ATM, Cards/PoS, eNaira, agent banking, etc.), the Bank acknowledges that these may not be evenly distributed across all geopolitical zones and in some rural areas.