...Redifining Journalism for Development

Redesigning Nigerian currencies will reduce electoral fraud, insecurity – APC chieftain


Redesigning Nigerian currencies will reduce electoral fraud, insecurity – Al’ameen

Story from Ahmad SAKA, Bauchi

A chieftain of the All Progressives Congress (APC) in Bauchi State, Alhaji Sani Al’ameen Muhammed, has explained that redesigning all major naira notes by the Central Bank of Nigeria (CBN) will help to reduce electoral fraud, votes buying, insecurity and corruption in the country.

Al’ameen who was a one-time APC gubernatorial aspirant in Bauchi, stated this in a statement he distributed to reporters in Bauchi.

He said President Muhammadu Buhari should be commended for taking the bold step to allow the apex bank to redesign the currencies.

The chieftain said it is heart-warming that the president demonstrated courage in taking the bold decision which many believe will bring sanity to the currency management situation in Nigeria.

Al’ameen said, “All was not well when one considered what the Central Bank of Nigeria (CBN) governor, Godwin Emefiele, complained that Nigerians were hoarding about N2.7 trillion from the financial system because out of the N3.3 trillion in circulation, only N600 billion is in the vaults of commercial banks.”

He said this shouldn’t be allowed to happen, and advised Nigerians to support the initiative in the best interest of Nigeria and advised CBN to monitor both the financial system in particular, and the economy in general, and always act in good faith for the achievement of the bank’s objectives and the betterment of the country.

Al’ameen urged the anti-graft agencies to go after hoarders of naira, and advise all stakeholders to support the crusade with patriotism to sanitise and stabilise the system in the best interest of the country.

It was reported Wednesday that on December 15, CBN, after getting President Muhammdu Buhari’s approval, will release the redesigned naira notes of N200, N500, and N1000.

Get real time updates directly on you device, subscribe now.

Comments are closed, but trackbacks and pingbacks are open.