Over N500bn Old Naira Notes Still Outstanding – Bawa 

The Economic and Financial Crimes Commission, EFCC Chairman, Abdulrasheed Bawa, had said that over N500 billion old naira notes stashed in private vaults are yet to be returned to the Central Bank of Nigeria CBN.

The EFCC chairman added that the commission had a lot of information on some of the means politicians were devising to buy votes during elections.

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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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