Re-design policy not targeted at Tinubu, Emefiele replies El-Rufai


*Insists there are enough new notes


Adeyinka Adeniji



Contrary to public insinuations and accusations by notable members of the All Progressives Congress (APC), notably, the Governor of Kaduna State, Mallam Nasir El Rufai, that the ongoing currency remodeling exercise is targeted at the presidential candidate of the party, Asiwaju Bola Tinubu, the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has said that the exercise is targeted at the betterment of Nigerians and the economy at large and not anybody particularly.

This was disclosed Saturday morning in a statement by the CBN after a press briefing with journalists in Lagos.

El Rufai had recently declared on a live television programme that there are elements in the presidency working against the party’s candidate, in the February 25 presidential elections.

“The naira redesign project is not targeted at anyone but for the sake of Nigerians and the Nigerian economy,” said Emefiele as he addressed newsmen in Lagos, adding that: “The advantages of the currency redesign are overwhelmingly enormous and will benefit the economy in the long run”

Concerning the hardship experienced by Nigerians across the states as the CBN enforces its cash swap deadline, the CBN governor assured that the apex Bank is “committed to ensuring a seamless, inclusive, and equitable implementation of the redesign exercise for the overall benefit of the people, financial system and Nigerian economy as a whole.”

He equally pleaded with Nigerians “to remain calm and patient as the CBN and deposit money banks are working to address the challenge of cash distribution”, assuring also that “there is an adequate amount of currency (redesigned N200, N500, and N1,000 denominations and current N100, N50, N20, N10, and N5 denominations) available to support economic activities.”


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