A coalition of political parties and Ethnic Youth Leaders have assured Nigerians that the new currency notes suggested by the Central Bank of Nigeria will help reduce money laundering, vote buying, ransom taking, and counterfeiting.
Friday during a news conference in Abuja, the conveners of the groupings made this promise.
The organizations downplayed Nigerians’ worries on the CBN’s proposed redesign of the Naira banknotes, which are set to enter circulation on December 15, 2022.
Instead, coalition conveners Meliga Godwin and Kenneth Udeze, national chairman of Action Alliance, praised the planned redesign of the Naira currency notes as a positive move.
According to them, the CBN has dealt a decisive blow to money launderers and election shills.
A jointly signed statement by the coalition states, in part, “The CBN Governor, Godwin Emefiele, stated during a press briefing in Abuja that plans for the new Naira notes that will enter circulation on December 15, 2022, have been finished.
According to him, the exercise would impact the denominations of 200, 500, and 1000 dollars.
“We applaud this decision by the central bank since currency counterfeiting has become widespread in recent years, money has become a standardized unit of exchange, and criminals are abusing it.
The Central Bank of Nigeria (CBN) has given the last blow to smugglers and money laundering organizations that introduce counterfeit cash into the financial system.
This approach will also increase the amount of money in banks’ vaults, which they may utilize to support the formal sector for the good of the economy.
It has also increased the likelihood of a free and fair election, as vote buying has been eliminated and security will be vastly enhanced.
“Generally speaking, the advantages of this program significantly outweigh the cost of issuing the new notes, and we urge all Nigerians to support the CBN Governor,” the statement stated.
