CBN Naira Policy Will Tackle Vote-Buying — PNG

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(Last Updated On: 2023-02-06)

Spokesperson of the Group, Isaac Balami, said this while addressing newsmen at a mega solidarity walk in support of the CBN Naira redesign policy organised by PNG.

Balami said the PNG’s solidarity walk to CBN was to address issues around the money policy, a good initiative that was being sabotaged by some people.

“Politicians are playing politics to blackmail CBN and the president to go back on their words.

“We are here to support the policy because we know this issue of new money policy will help to stop vote buying.

“The issue of vote buying is a major problem. It has destroyed Nigeria; so enough is enough.

“We are aware that the CBN has released money to all the banks but politicians are buying this money at a higher rate as black market thereby frustrating citizens to go against CBN and the government”

Balami said that the group was aware of sufferings of Nigerians and appealed to them to be patient and endure the stress for future benefit.

“We are saying no to vote buying, if you want to buy votes transfer the money and CBN will trace you.

“We have seen videos of banks hoarding money and we urge CBN to do the needful and monitor banks.

”CBN should activate all machineries and use the relevant agencies to force the bank to pay Nigerians their money.”

Responding, Mr Osita Nwanisobi, Director, CBN Corporate Communications Department, commended the group for conducting peaceful rally to its office to discuss their concerns.

Nwanisobi said that CBN was committed to delivering people centred policies.

“When the present governor assumes duty, he made it clear that he will lead a people centred CBN and that its policies would affect the lives of Nigerians positively and that is what we are doing.

“If you see what has happened with this Naira redesign, a situation where you have N2.7 trillion outside of the banking system does not augur well for the Nigerian economy and that is the major reason for this Naira redesign.

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“It is to ensure the money comes back within the banking sector so that we will be able to control the money in the system and also make out monetary policy very effective.”

Nwanisobi said that CBN is fully persuaded that what it is doing is for the benefit of Nigerians and does not have a political undertone.

He said that CBN was working to ensure that the new Naira notes circulate across the country and pleaded with Nigerians to be a little patient because the process would favour them in the long run.


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