The Arewa Youth Consultative Forum (AYCF) has said the redesign of the naira notes as well as the cash withdrawal policy by the Central Bank of Nigeria (CBN) will address vote buying and other forms of corruption in the course of the 2023 general elections.
Addressing a press conference yesterday in Kaduna, the national president of AYCF, Alhaji Yerima Shettima, said the unfolding negative campaign against the policies are funded by enemies of Nigeria’s economic growth and development.
He said, “AYCF noted with disappointment the way and manner the media has also been used to castigate the CBN Governor, Godwin Emefiele and his management for taking bold steps to address the financial economic challenges facing this country and how some misinformed Nigerians have been trying to undermine the process at take-off”.
Alhaji Shettima, who is also a human rights activist, said the AYCF, after extensive deliberations, resolved to support any policy review by the CBN that helps boost the national currency’s value even if it hurts politicians who have hidden millions in cash, with intent to buy up voters in the forthcoming general elections.
“We reject a situation where national security will be threatened by sponsored political violence using cash from soakways, farm houses and other illegal vaults. It is clear to many Nigerians that wholesale hoarding of Naira banknotes by members of the public is now being dealt with by the policy of naira redesign. Long before now, CBN’s available statistics show that cash outside banks consist of over 80% of Currency-In -Circulation (CIC).
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