New CBN Policy: Ignore Detractors, Arewa Youths Tell Emefiele

Northern youths under the auspices of the Arewa Youth Assembly have endorsed the new Central Bank of Nigeria (CBN) policies and called on the apex bank’s governor, Mr. Godwin Emefiele, to remain focused and disregard saboteurs.

The publicity secretary of Arewa Youth Assembly, Alhaji Ali Muhammad in a press conference yesterday on the need for Nigerians to support the CBN policy expressed optimism that the policy will fight banditry and kidnapping for ransom industry, control the amount of money in circulation; fight inflation and address issues of corruption and hoarding of naira notes by individuals.

He said the policy will also help to checkmate the incidences of vote buying, which is the greatest threat to fair and credible elections in 2023, saying that many politicians have stockpiled funds they intend to use for this nefarious purpose.

The CBN while announcing the policy, said that to forestall the future harboring of naira notes by individuals, it has pegged 100,000 and 500,000 as the maximum cash withdrawal for individuals and corporate organizations respectively.

The group which expressed disappointment at some individuals and institutions that are against the policy said that to further ensure that the commendable initiative of the CBN fails, both chambers of the National Assembly have openly called for the reversal of the policy or to extend the implementation date, but that the call failed due to the open endorsement of the policy by President Muhammadu Buhari.

“Nigerians are aware that since he was appointed the CBN governor, he has introduced over 37 interventions to save the economy. The beauty of it all is that these interventions are not for his benefit but for the benefit of the common man.

“It is verifiable that President Buhari is fulfilling his campaign promises through Mr. Godwin Emefiele policies, which range from a fight against insecurity, agriculture, job creation, and fight against corruption just to mention but a few.

“It is on record that most countries in the world are yet to recover from the shock caused by the COVID-19 pandemic which crippled the economy of most countries. The handling of the economy, during and after the pandemic by Mr. Emefiele is legendary. Our economy is faring much better than that of our neighboring countries.”