Mr Abdulrasheed Bawa, the Chairman of the Economic and Crimes Commission (EFCC), has stated that the redesigning of Naira may lead to the fall of dollars, to probably N200 one dollar.
This was stated by Bawa in an interview with Deutsche Welle (DW) Hausa service. Check out DOLLAR TO NAIRA BLACK MARKET EXCHANGE RATE TODAY SUNDAY 13TH NOVEMBER 2022
In his state he make known to the public the law governing the redesigning of Naira which has been abandoned for the past 20 years.
“The law says the redesigning of Naira notes should be done every eight years but we spent 20 years without any changes on them. And that resulted to 85 per cent of money are in circulation not in banks, when CBN came up with this redesigning, dollar moved to 880 and later dropped to 680 or thereabouts.
So you see with this redesigning dollar may massively fall, who knows probably to ?200.”he stated. check out TOP 10 BEST BANKS IN NIGERIA LIST 2022
Bowa further stated that the redesigning of Naira has nothing to do with politics that Nigerians are to report anyone with siphon money.
Bowa said;
“There is no political motive in this; some people siphoned and hid public funds that is why we want them to bring them out and nobody says they should not bring them, what government says is let them deposit such money in banks.
We assure Nigerians that we are always ready to receive reports of any person with suspicious hidden money and if investigated to be true, we will give 5 per cent of the money to them”
The new naira notes will be released 15th December, as confirm by Godwin Emefiele, the governor of Central Bank of Nigeria (CBN)