SaharaReporters earlier reported that the Central Bank had announced it would start circulating the newly redesigned N200, N500, and N1000 notes starting in December 2022.
The presidential candidate of the African Action Congress, Omoyele Sowore, has called for the impeachment of President Muhammadu Buhari and the sacking of the Governor of the Central Bank of Nigeria, Godwin Emefiele over the redesign of banknotes.
SaharaReporters earlier reported that the Central Bank had announced it would start circulating the newly redesigned N200, N500, and N1000 notes starting in December 2022.
Emefiele who disclosed this last Wednesday afternoon during a special briefing said the naira notes were redesigned following a request made by the Federal Government.
The CBN boss advised Nigerians to take old notes to banks in exchange for the new notes, adding that the action was taken to take control of the currencies in circulation.
According to him, the bulk of the nation’s currency notes is outside bank vaults and the CBN will not allow the situation to continue.
“To be more specific, as at the end of September 2022, available data at the CBN indicates that N2.7 trillion out of the N3.3 trillion currency in circulation was outside the vault of commercial banks across the country and supposedly held by members of the public,” he said.
“Evidently, currency in circulation has more than doubled since 2015, rising from N1.46 trillion in December 2015 to N3.2 trillion as at September 2022. I must say that this is a worrisome trend that must not be continued to be allowed.”
Reacting, the AAC presidential hopeful said the policy has done more damage to the value of the naira. He, therefore, called for the impeachment of President Buhari and the sacking of CBN governor, Emefiele.
He said, “Nigeria’s Central Bank @cenbank Governor, @GodwinIEmefiele must go and @Mbuhari must be impeached over their recent #NairaDesign policy that has led to further destruction of the value of the Naira. @GodwinIEmefiele has become the Bureau De Change for the @mbuhari family & cabal. #WeCantContinueLikeThis #BuhariMustGo #EmefieleMustGo These incumbent thieves, and saboteurs of the Nigerian economy must go!”
Nigeria’s Central Bank @cenbank Governor, @GodwinIEmefiele must go and @Mbuhari must be impeached over their recent #NairaDesign policy that has led to further destruction of the value of the Naira. @GodwinIEmefiele has become the Bureau De Change for the @mbuhari family & cabal pic.twitter.com/oCBzjpG8IA
— Omoyele Sowore (@YeleSowore) October 31, 2022