The Central Bank of Nigeria (CBN) has disclosed that it could not enforce laws against breachers of its currency or financial rules.
CBN’s Corporate Communications Acting Director, Osita Nwanisobi who represented CBN Governor Godwin Emefiele during an interactive session with the organised labour in Calabar, Cross River state recently, warned against mishandling, defacing and rough-treating the Naira as the federal government spends a lot to print it.
Nwanisobi made it known that the cost of printing the Naira is usually borne by the people in the long run.
He said: “CBN is not a law enforcement agency. But we completely frown at such an attitude where the national currency is not accorded its due respect as other nationals do their currencies.”
During the event, CBN’s five-year financial policy for 2019 to 2024 was also announced. According to Nwanisiobi, the five-year policy and programmes of the CBN are people-centred.
He said: “We have churned out an array of economic intervention programmes aimed at impacting the economic well-being of the people.
“We want Nigerians, including smallholder farmers, petty traders, entrepreneurs and industrialists to key in to these programmes instead of staying aloof to doubt.
“We particularly encourage the return to agro-allied businesses instead of all depending on oil.”
