Naira redesign: Kidnapping, banditry have reduced – Emefiele

Governor of the Central Bank of Nigeria, Godwin Emefiele has claimed that the redesign of the Naira and cashless policy has led to a tremendous decrease in banditry and insecurity in the country. He said this while speaking with the House of Representatives’ fact-finding ad hoc committee on the scarcity and the deadline for the old Naira notes.

Emefiele urged those affected by the policy to bear with the apex bank, while urging Nigerians to comply with all directives.

He 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.”