Proposed Naira Redesign Will Block Access To Illicit Funds – Obono-Obla

Chief Okoi Obono-Obla, a former presidential aide, has reacted to the proposed plan to redesign the naira notes.

He noted that the change in the design of Naira notes will cut off terrorists, kidnappers and money launderers from having access to illicit funds which they use to perpetrate their nefarious activities.

In a statement issued on Thursday morning, he hailed the Central Bank of Nigeria’s announcement yesterday that by 15 December 2022, the redesigned Naira notes will be in circulation.

He described it as a step in the right direction by the All Progressives Congress (APC) government.

He said the change in the design of the national currency is an anti-corruption measure.

In his opinion, Obono-Obla said the CBN announcement will contribute substantially to stopping politicians from using large sums of money in the forthcoming general elections to influence and compromise voters.

He said the Federal Government needs to be commended for taking the far-reaching, comprehensive and bold initiative to revamp the national currency.

He added that it will also stem trafficking and hoarding of the national currency.

Governor of the CBN, Godwin Emefiele said by January 2023 the current denominations of the Naira including N100, N200, N500 and N1000 will cease to be legal tenders in the country.

In a very surprised move, the military regime of Major General Muhammadu Buhari and late Brigadier Tunde Idiagbon promulgated a decree in January 1984 which empowered the CBN to redesign the Naira currency.