Godwin Emefiele: Naira Redesign Affecting Kidnappers, Bandits

The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele has claimed that the redesigning of the naira is helping to curb kidnapping and banditry in the country.

He made the statement on Tuesday, January 31 when he appeared before the House of Representatives ad hoc committee.

Emefiele pleaded with lawmakers and Nigerians to demonstrate understanding, insisting that the CBN’s aim is to tackle insecurity.

He also urged citizens to comply with all directives from the apex bank so that the policy can be implemented seamlessly.

The CBN Governor said; “At this initial stage, there will be hitches, but it’s to make the Nigerian economy better and stronger.

“The redesigned naira notes and CBN’s cashless policy has moderated inflation in the country and curtailed the activities of kidnappers and bandits.

“Inflation is moderating, the exchange rate is stable, and we’re hoping that the naira can be stronger.”