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Friday, February 3, 2023

Nigerian Governors summons Emiefele over redesign notes, cash withdrawal policy

The governors of the 36 states have summoned the Central Bank of Nigeria, CBN, Governor, Godwin Emefiele, over the withdrawal policy and the redesigned naira notes.

Recall that On Wednesday, October 26, 2022, the nation’s apex bank had announced plans to redesign some new naira notes being used in the country.

The CBN had on November 8, 2022, said it had finalised arrangements for the new currency to begin circulation from December 15, 2022, after its launch by President Muhammadu Buhari.

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It had explained that the new and existing currencies shall remain legal tender and circulate together until January 31, 2023, when the existing currencies shall cease to be legal tender.

But the Chairman of the Nigeria Governors’ Forum and the Governor of Sokoto State, His Excellency, Aminu Tambuwal in an invitation to the Central Bank of Nigeria Governor, Mr Godwin Emiefele said that he should attend a virtual meeting on Thursday, the 19th of January 2022 at 9 pm prompt.

A statement yesterday by NGF Head of Media and Public Affairs, Abdulrazaque Bello-Barkindo read, ” Issuing the invitation, the Nigeria Governors Forum Director General, Mr Asishana Bayo Okauru said the agenda is on the recent CBN policy of redesigning the Naira Notes.

“The CBN Governor, Godwin Emefiele had announced the initial decision of the Apex Bank to redesign the Naira note, on October 26, 2022, and Nigeria’s Apex Bank urged Nigerians not to wait until January 31, 2023, to get the new notes.

“For the virtual meeting, the agenda is titled “ The Economic and Security implications of naira redesign and withdrawal policy,” and it has lingered for some time now.

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“The discussion promises to foster participation and dialogue between various stakeholders including governments and civil society organizations to come out with a solution to the lingering issue.”

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