‘New Naira Policy Was implemented To Eliminate Corruption, Insecurity’ – Emefiele

• Emefiele has finally opened up on the real reason for the Naira redesign.

• According to the CBN governor, the policy was set out to eliminate corruption, insecurity, and other vices.

• Emefiele also stated that N200 notes will be made available by commercial banks to Nigerians.

EKO HOT BLOG reports that the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has revealed the agenda of the apex bank with the naira policy.

Emefiele on Thursday said the policy was put in place to solve the issue of corruption, illicit financial flow, economy, and insecurity.

EDITOR’S PICKS  

• INSIGHT: Tinubu Vs. The ‘Saboteurs’ In Aso Rock; Who Comes Out On Top?

• Naira Redesign: An Action With A Thousand Implications

• Tinubu’s Path To Power: The Accelerators And The Speed-breakers

Reiterating his stance on the swapping of the old N1,000, N500, and N200 notes, whose deadline ended on the 10th of February, 2023, Emefiele said it will be well, despite the challenges in the country.

Emefiele stated this on Thursday during a chat with Channels Television.

He said, “We are all servants serving Nigeria. As I’m concerned, the Honourable Attorney General of the Federation (Malami) has spoken on this matter (cash crunch), and the president (Muhammadu Buhari) sealed the whole of the issues this morning (Thursday) in his broadcast.

“I can only appeal to Nigerians. Let’s allow this policy to work. This policy goes to solve the problem of corruption and illicit financial flow. The policy goes to solve some of the problems in the economy. This policy also goes to reduce insecurity in the country.

“These three issues (aforementioned) which are the tripod of this administration’s policy are all embedded in this policy. So, we should just allow it to work.

“There are some temporary pains but I can assure Nigerians that the long-term benefit is overwhelming and we should just give it a chance to work.”

Speaking on President Buhari’s directive, he said he has met with some commercial banks to make the old 200 notes available for Nigerians.

FURTHER READING  

• Possible Respite For Nigerians As Buhari Mulls Extending Validity Of Old Naira Notes – Report

• Lagos Govt To Prosecute Anyone Rejecting Old Naira Notes – Sanwo-Olu

• El-Rufai Gives Reasons For Rejecting Buhari’s Proposal To Extend Deadline For Old Naira Notes

He added, “Temporary pains are regrettable but I can assure Nigerians that it will be well.”

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