Naira Redesign: Nigerian Governors Set Up Committee To Interface With CBN – Life-style Nigeria

Naira Redesign: Nigerian Governors Set Up Committee To Interface With CBN – Life-style Nigeria

THE thirty- six State Governors underneath the aegis of Nigeria Governors’ Discussion board, NGF has constituted saddled with the accountability of interfacing with the Central Financial institution of Nigeria, CBN on the Naira redesign and  withdrawal coverage put in place by  the apex financial institution.

The Committee which is chaired by former Governor of CBN and the Anambra State Governor, Professor Charles Soludo has Governors Udom Emmanuel of  Akwa Ibom; Dapo Abiodun of Ogun; Babagana Zulum of Borno; Simon Lalong of Plateau and Badaru Abubakar of Jigawa States as members.

In a Communique issued on Saturday on the finish of its digital assembly held with the CBN Governor, Godwin Emefiele on Thursday night time, Chairman of NGF and Sokoto State Governor, Aminu Tambuwal mentioned that the State Governors urged the CBN to contemplate the peculiarities of States particularly as they pertain to monetary inclusion and under-served areas.

Ebonyi state governement lodge Abuja

The Governors have additionally noticed that there are large challenges that stay problematic to the Nigerian folks.

The governors mentioned that whereas they weren’t against the targets of the Naira redesign coverage, the apex financial institution ought to take into account the peculiarities of households and states, particularly pertaining to monetary inclusion and under-served areas.

Recall that CBN had in November final 12 months  introduced to Nigerians that naira notes of N1,000, N500 and N200 denomination could be re designed into new colors with attendant withdrawal of previous notes from circulation from December 15, 2022 to January 31, 2023 when they are going to now not turn into authorized tender.

The Communique learn, “We, the members of the Nigeria Governors’ Discussion board (NGF), obtained a briefing from the Governor of the Central Financial institution of Nigeria, Mr Godwin Ifeanyi Emefiele, on the Naira redesign, its financial and safety implications together with the brand new withdrawal coverage. Governors should not against the targets of the Naira redesign coverage.



“Nevertheless, we observe that there are large challenges that stay problematic to the Nigerian populace. Within the circumstances, Governors expressed the necessity for the CBN to contemplate the peculiarities of States particularly as they pertain to monetary inclusion and under-served areas and resolved to: Work intently with the CBN management to ameliorate areas that require coverage variation significantly the poorest households, the susceptible in society and a number of other different residents of our nation which are excluded.

“Collaborate with the CBN and the Nigerian Monetary Intelligence Unit (NFIU) in advancing real targets throughout the confines of our legal guidelines, noting that the current NFIU Advisory and Pointers on money transactions have been merely exterior the NFIU’s authorized remit and mandate.

“Lastly arrange a 6-member Committee to be Chaired by the Governor of Anambra State, Professor Charles Soludo and the Governors of the next States: Akwa Ibom, Ogun, Borno, Plateau and Jigawa as members, to interact the CBN in addressing anomalies within the nation’s financial administration and monetary system.”

Supply: Vanguard

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