Naira redesign: More govs under scrutiny, says EFCC, Macban anxious over funds stuck in forests

November 18, 2022
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Chairman of Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, yesterday, disclosed that the number of governors being monitored by the commission for alleged money laundering has increased beyond the three it earlier mentioned.

Bawa spoke to reporters at the Presidential Villa in Abuja, after a meeting with President Muhammadu Buhari. The EFCC boss, however, declined giving a specific figure, saying he wouldn’t want to be misquoted.

The anti-graft czar had, recently, hinted that the commission was keeping an eye on three governors over alleged money laundering, following Federal Government’s plan to redesign and replace some naira denominations.

He commended the move to redesign the naira notes, describing it as a significant step in the country’s fight against financial crimes and other forms of corruption.

He added that the intervention was an opportunity for government to regain control of flow of cash in the country and appealed to politicians to prosecute their campaigns without using illegitimate funds.

This came as the leader of Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), Southeast zone, Gidado Siddiki, appealed to the Central Bank of Nigeria (CBN) to extend deadline for circulation of the redesigned notes by three months.

Siddiki said an extension would enable members of the association, who live predominantly in forests, to bring out their savings and change them.

He made this known during a chat with reporters, yesterday, saying: “They can’t meet up with the timeframe given by the apex bank. The two weeks are not enough. Many of the herders do not have bank accounts; they keep and protect their money locally.

“We cannot fight or reverse government’s policy, as law abiding citizens. We are only appealing to CBN to extend the deadline by three months, to enable the leadership of Miyetti Allah reach out adequately to those living in out-of-telecommunication areas across states of the federation.”

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