News

January 17, 2023

Policy of redesigning the Naira Notes: Governors summon Emefiele

CBN

To meet with Governors Tomorrow

By Henry Umoru 

THE thirty– six State Governors under the aegis of Nigeria Governors Forum, NGF has summoned the Governor of Central Bank of Nigeria, CBN, Godwin Emefiele over the redesign of  some new naira notes of the country. 


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. 

Speaking on the development, Godwin Emefiele, CBN governor, stated that the move to introduce newly designed notes became imperative following what he described as the  abnormalities bedevilling Nigerian financial, monetary and security systems. 


According to him, the circulation of the new designs was designed to commence last year,  December 15, 2022.


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.

“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.”