Naira redesign has reduced kidnapping, banditry – Emefiele

Godwin Emefiele, the Central Bank of Nigeria (CBN) Governor, on Tuesday, appealed to lawmakers and Nigerians to demonstrate understanding, insisting that the apex bank was out to fight the incidence of insecurity in Nigeria.

Emefiele also claimed that the incident of kidnapping and banditry has reduced amid the Naira redesign.

He stated this during the call in Abuja before the House of Representatives’ fact-finding ad hoc committee on the scarcity and the deadline for the old Naira notes.

Emefiele urged those affected by the policy to bear with the apex bank, while urging Nigerians to comply with all directives.

He said, “At this initial stage, there will be hitches, but it’s to make the Nigerian economy better and stronger.

“The redesigned naira notes and CBN’s cashless policy has moderated inflation in the country and curtailed the activities of kidnappers and bandits.

“Inflation is moderating, the exchange rate is stable, and we’re hoping that the naira can be stronger.”