The Central Bank of Nigeria would take delivery of new naira notes before the end of September for circulation, the Deputy Director, Operations, Dr. Tunde Lemo, has said.Lemo stated this in an interview, on Wednesday in Abuja. The apex bank had earlier said that new naira notes would be in circulation by June, and that the smaller denomination notes (N5, N10, N20, and N50) would be reprinted on paper.“We are going to take delivery of the new notes from this month of August. We are taking delivery of the new notes before the end of September.“The public would get a large quantity of the new notes to replace the old and mutilated notes, particularly the higher denomination notes in the first instance, then later the lower denominations,’’ he said.On the scarcity of the lower denomination notes, Lemo blamed commercial banks for what he called “poor circulation.”“For the lower denomination; well, I think the banks are really the ones that are really not allowing the lower denomination in circulation, largely, because of the carrying value.“Most people don’t require small denomination. But for buying things in the market, if you look at the veracity, you find out that the N50 circulate more than the smaller ones,’’ he said.Source:http://gistplaza.blogspot.com/2013/08/new-naira-notes-coming-september-ending.html
New Naira Notes Coming September Ending – CBN Images
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CBN To Introduce New Notes By September, To Reprint N5, N10, N20 & N50 ...
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The law, which was initially signed back in 2007 by then governor Gov. Arnold Schwarzenegger, was delayed because of patents on the technology. On Friday, the Attorney General of California certified the law, becoming the first state in the country to require new guns use this stamping technology.The “microstamping” act requires every new handgun produced or brought into the state of California to have a special firing pin that will stamp a serial number onto the primer of a round.In reality, this technology will do nothing to prevent crime and will never be implemented, making the sale of all new guns into California illegal. In minutes a criminal could easily bypass this technology by filing the firing pin which would completely remove the stamp, rendering the technology completely useless. Despite this, California is pressing on with the new law.Attorney General Harris was quoted saying “This very important technology will help us as law enforcement in identifying and locating people who improperly and illegally use and discharge firearms.”That’s all nice and well, but who in their right mind believes a criminal is going to buy one of these self identifying weapons? What about the millions of illegal guns streaming over the Mexican border into California?In my opinion, this is just another example of punishing law abiding gun owners and yet again infringing on our Second Amendment right to defend ourselves. Since the law does nothing to stop illegal guns, nothing to go after the criminal gangs who are selling them, and doesn’t prevent criminals from bypassing the technology, there is little doubt what this laws really about – one more step towards banning all guns.
