Naira Change: CBN Has Dealt A Blow To Vote Buyers, Money Launderers – Coalition

Ethnic youth leaders and political parties have lauded the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele for finalising arrangements for the new naira notes which will begin circulation on December 15, 2022.

The groups, in a joint press conference by its conveners, Comrade Meliga Godwin and Barr. Kenneth Udeze, the Action Alliance party chairman noted that the decision of CBN to redesign the naira was a welcome development as it would help stop money laundering, vote buying, ransom taking and counterfeiting.

According to Meliga, by this act, the apex bank has dealt a final blow to money launderers as this would inconvenience criminals that deal with cash.

“We support this move by the apex bank because lately counterfeiting of currency has become a common phenomenon, money has become a standardized trade unit and abused by criminals.

“The CBN has dealt a final blow to smugglers and money laundering companies, who inject counterfeit currency into the financial system.”

“This policy will also put more money in the vaults of the banks which they can use to finance the formal sector for the benefit of the economy.

“It has also improved chances of a free and fair election as vote buyers have been taken out of the equation while security will be greatly improved,” he said.