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‘Joker!’ — Sowore calls for sacking of Emefiele over redesigning of naira notes

Omoyele Sowore, presidential candidate of the African Action Congress (AAC), has called for the sacking of Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), over the redesigning of naira notes.

On Wednesday, Emefiele disclosed that the CBN was redesigning the naira notes.

He said the bank had obtained approval from President Muhammadu Buhari to redesign N100, N200, N500, N1000 notes, adding that the new notes will come into effect by December 15.

“To be more specific, as at the end of September 2022, available data at the CBN indicates that N2.7 trillion out of the N3.3 trillion currency in circulation was outside the vault of commercial banks across the country and supposedly held by members of the public,” he said.

“Evidently, currency in circulation has more than doubled since 2015, rising from N1.46 trillion in December 2015 to N3.2 trillion as at September 2022. I must say that this is a worrisome trend that must not be continued to be allowed.”

Reacting to the development, Sowore in a post on his verified Twitter handle said instead of boosting the value of the naira, the apex bank wants to redesign banknotes.

He said: “Central Bank of Nigeria to redesign banknotes 200, 500 and 1000 notes instead of boosting the value of the Naira. Jokers!

“Me: It is time to fire the CBN Governor, Emefiele. #WeCantContinueLikeThis.”

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