Bandits have kidnapped more than 700 schoolchildren since December.
![CBN Governor, Godwin Emefiele. [CREDIT: Bloomberg]](https://gazettengr.com/wp-content/uploads/CBN-Governor-Godwin-Emefiele.jpg)
The CBN director noted that removing a sitting MD/CEO of a “systemically important” bank was not good.”
Mr Buhari explained that he would use the loans used to execute priority projects and support state governments in stimulating their economy adversely hit by the COVID-19 pandemic.
President Muhammadu Buhari’s flagship policy has been beset by escalating allegations of incompetence, nepotism and payroll racketeering.
At $40 million, the CBN would have incurred a cost of about N200 million.
The new USSD charges will be received on behalf of Mobile Network Operators (MNOs) directly from customers’ bank accounts.
The controversial policy was introduced on Tuesday.
“In an atmosphere devoid of politics, we should be working together, we need to benefit from this loan,” the governor said.
“NIPOST has been recognised…to be the producer of stamps and recognised for the collection of stamp duties.”
The CBN’s “Naira 4 Dollar scheme” is set to begin on March 8 and end in May.
