Controversy trails naira redesign as northern group calls for Emefiele’s sack


The Concerned Northern Forum on Wednesday called for the removal of the Governor of the Central Bank of Nigeria Godwin Emefiele over his decision to redesign the #100, #200 and #500 notes, effective December 15, 2022.

A spokesman for the Forum, Abdulsalam Mohammed Kazeem, in a statement described the move by the apex bank as an idea to empower ‘boys’ as this administration winds down in a few months’ time.

To him, “the redesigning of the said currency will only cost our nation huge sums of money at the expense of taxpayers.

“This is coming at a period when we are borrowing to fund significant parts of our annual budget and other significant parts of the borrowing go to debt servicing and yet the only solution the apex bank could offer is to redesign our currency. indeed Mr Godwin Emefiele and his entire team have completely run out of ideas and now is the time to show them the exit gate.

“We are concerned as representatives of our people and region, if we may ask; will the new design make our currency gain value at the exchange rate market?

“Will it add value to the standard of living of the citizenry of our region and the nation at large?

“If no satisfactory answers are provided (as we already expect none) for the above questions, the apex bank should immediately stop the process of the new design or else it will be resisted by us in collaboration with other concerned civil society organisations from within and outside our region.

“We, therefore, demand the immediate suspension of the whole process of the new naira design and sack of Mr Godwin Emefele and his team.

“Failure to meet our demands will lead to massive protest across the northern region and Federal Capital Territory,” he said. The Sun


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