Human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has revealed that the Central Bank of Nigeria (CBN) collected about N3.2 trillion from customers and other sources but printed only N402 billion during its naira redesign policy.
Nigerians went through harrowing experience during the implementation of the policy which saw the apex bank try to phase out the old N200, N500 and N100 notes and replace them with new ones.
This was made known by Falana on Monday while speaking on a Channels Television programme, Sunrise Daily, where he berated the former CBN Governor, Godwin Emefiele, for the currency redesign earlier in the year which led to a scarcity of the naira currency at the time with the devastating effects on businesses and households.
In response to these distressing events that followed the naira redesign policy, Falana said he took legal action by invoking the Freedom of Information Act, submitting a request to the Central Bank to disclose the exact amount of money that had been printed.
He said, “I had to write to the central bank under the Freedom of Information Act to know how much was printed.
“To my utter dismay the central bank collected about 3.2 trillion from customers and others the bank only printed 402 billion naira.’’
The human rights lawyer emphasised the urgency of utilizing the law to combat corruption and gather essential information to protect the interests of the people.
He added, “We must take advantage of the law and use the law to enforce corruption and get information to defend our people.’’
Nat. Standard3 months ago
Minister, Idris, challenges Senate to review outdated laws to improve performance in the information sector
Education2 months ago
Hours after suspending accreditation of degree certificates from Benin Republic, Togo, FG set to extend sanction to Uganda, Kenya, others
Sports2 months ago
Ayanwale emerge winner of Seyi Tinubu Table Tennis Challenge as Ogunlende, Bolowotan task youths on sports involvement
NCC4 weeks ago
Telecom Indicators: Nigeria sees steady increase in active voice and internet subscriptions, drop in teledensity
Aviation3 months ago
UAE grants Air Peace direct flight approval to Dubai
Agribusiness1 month ago
Borno government tasks media on sustaining public interest, core values
Aviation4 weeks ago
NCAA cautions pilots, airlines as NiMet alerts Nigerians of dust haze
Aviation2 months ago
Aviation agencies: Tinubu sends more directors packing