Politicians with Billions in Cash Move against Naira Redesign – THISDAYLIVE


*Mobilise N’Assembly to pass resolution as several lawmakers may have stockpiled cash for elections and are angry

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Indications have emerged that politicians who stashed billions of Naira outside the banking system to prosecute the 2023 general election have moved against the planned reintroduction and redesign of Nigeria’s currency by the Central Bank of Nigeria (CBN), THISDAY has learnt.
These politicians, it was learnt, have mobilised the National Assembly to pass a resolution against the Naira redesign as several lawmakers may have stockpiled cash for the 2023 general election.

On October 26, 2022, CBN Governor, Mr. Godwin Emefiele, had announced the plan to redesign the Naira to control the money supply.
The redesigned notes include N200, N500 and N1,000.
According to the apex bank, new N200, N500, and N1,000 notes will go into circulation from December 15, while the current notes will cease to be legal tender by January 31,…

Source: Thisday Newspaper