“Over N500bn old Naira notes not yet returned to CBN” – Bawa

According to Abdulrasheed Bawa, chairman of the Economic and Financial Crimes Commission (EFCC), more than 500 billion naira worth of old naira notes have not yet been returned to the Central Bank of Nigeria.

Over N500bn old Naira notes not yet returned to CBN ? Bawa

Bawa also disclosed that the CBN had printed 500 billion new naira notes, which are currently in use, when appearing on Channels TV’s Politics Today.

He said; 

“The only option politicians have now is to buy votes, as BVAS will do a lot of wonders. They want to maximize the numbers they have. That is the intelligence we have and I am happy that all the security agencies are working to make sure the election is successful.

“Some people stashed money for the purpose of the election. Even as of today we still have over N500 billion old naira notes that are yet to be returned to the CBN. And the CBN has printed N500 billion new naira notes which is in circulation.

“We have our own way of getting such Intel and God willing we are going to use it maximally this time around.”

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