PHOTOS: Rotten bundles of naira notes dumped by river side in Benue

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Residents of Benue in wadata area woke up  to see these rotten bundles of naira notes in billions all dumped by the river side.


The rotten money in billions was loaded in sacks and dumped by the riverside in the Wadata area of the state.


Meanwhile, the police and EFCC officials have visited the place.


Recall...

The CBN Governor Emefiele said the redesigned Naira notes will take effect from Thursday, December 15, 2022.


He also said that existing notes would seize to be regarded as legal tender by January 31, 2023.


Here are, however, four reasons the CBN decided to redesign the naira notes:


1. The Naira note was redesigned to address the issue of individuals who have made currency fraud their main source of income. People who have hidden money they have stolen, for instance, would either find a way to change it by taking the money out or would not need it given the change in the value of the Naira.


2. The currency change also aims to deal a fatal blow to the growing kidnapping and ransom industry.


3. The change in the notes is also said to aid in lowering the rate of inflation.


4. The change in the Naira notes is also intended to control the amount of money in circulation.

PHOTOS: Rotten bundles of naira notes dumped by river side in Benue

PHOTOS: Rotten bundles of naira notes dumped by river side in Benue

PHOTOS: Rotten bundles of naira notes dumped by river side in Benue

PHOTOS: Rotten bundles of naira notes dumped by river side in Benue

PHOTOS: Rotten bundles of naira notes dumped by river side in Benue

PHOTOS: Rotten bundles of naira notes dumped by river side in Benue


~~~ By Doosuur Iwambe 

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