By Abubakar Yunusa, Abuja
The Nigeria Governors’ Forum (NGF), says it is not opposed to the Naira redesign policy currently being implemented by the Central Bank of Nigeria (CBN). The body of the country’s 36 State Governors made this known in a communique issued by its interim Chairman, Aminu Tambuwal of Sokoto State. The NGF said the forum received a briefing from CBN Governor, Godwin Emefiele on the Naira redesign policy, its economic and security implications.
It will be recalled that on October 26, 2022 Emefiele, announced the CBN’s plan to redesign the Naira in order to control the money supply and aid security agencies in tackling illicit financial flows.
The CBN governor had explained that the introduction of new notes was a deliberate step by the government to check corruption and counterfeiting of the notes. The NGF has however clarified its position on the policy it was not opposed to the objectives of the Naira redesign policy.
The NGF said: “However, we observe that there are huge challenges that remain problematic to the Nigerian populace. In the circumstances, governors expressed the need for the CBN to consider the peculiarities of states especially as they pertain to financial inclusion and under-served locations and resolved to:
“NGF will work closely with the CBN leadership to ameliorate areas that require policy variation particularly the poorest households, the vulnerable in society, and several other citizens of our country that are excluded.
“NGF will collaborate with the CBN and the Nigerian Financial Intelligence Unit (NFIU) in advancing genuine objectives within the confines of our laws, noting that the recent NFIU Advisory and Guidelines on cash transactions were simply outside the NFIU’s legal remit and mandate.
“Finally NGF has set up a six-member Committee to be chaired by the governor of Anambra state, Charles Soludo, and the governors of the following states: Akwa Ibom, Ogun, Borno, Plateau, and Jigawa as members, to engage the CBN in addressing anomalies in the country’s monetary management and financial system.”