New Naira: Consider Peculiarities Of States, Govs Tell Emefiele

Less than 10 days to the deadline on the use of old Naira notes, 36 State governors of the Federation have appealed to the Central Bank of Nigeria (CBN) governor, Godwin Emefiele, to consider the peculiarities of States.

Chairman of the Nigeria Governors Forum (NGF) and Sokoto State governor, Aminu Tambuwal, disclosed this after a virtual meeting between the governors and Emefiele on Thursday night.

He, however, said governors were not opposed to the new policy but only pointed out the huge challenges that remain problematic to the people.

Consequently, the governors set up a six-member committee to engage the CBN in addressing anomalies in the new policies of the apex bank.

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Tambuwal said, “We, the members of the Nigeria Governors’ Forum (NGF) received a briefing from the Governor of the Central Bank of Nigeria, Mr. Godwin Ifeanyi Emefiele, on the Naira redesign, its economic and security implications including the new withdrawal policy.

“Governors are not opposed to the objectives of the Naira redesign policy. However, we observe that there are huge challenges that remain problematic for the Nigerian populace.

“In the circumstances, Governors expressed the need for the CBN to consider the peculiarities of States especially as they pertain to financial inclusion and under-served locations, and resolved to:

“Work closely with the CBN leadership to ameliorate areas that require policy variation particularly the poorest households, the vulnerable in society, and several other citizens of our country that are excluded.

“Collaborate with the CBN and the Nigerian Financial Intelligence Unit (NFIU) in advancing genuine objectives within the confines of our laws, noting that the recent NFIU Advisory and Guidelines on cash transactions were simply outside the NFIU’s legal remit and mandate.

“Finally set up a 6-member Committee to be Chaired by the Governor of Anambra State, Professor Charles Soludo, and the Governors of the following States: Akwa Ibom, Ogun, Borno, Plateau and Jigawa as members, to engage the CBN in addressing anomalies in the country’s monetary management and financial system,” he added.