Deji Adeyanju advises CBN to release new notes after 2023 election

Deji Adeyanju, a well-known sociopolitical activist, claimed on Tuesday that the opposition political parties were the objective of the Central Bank of Nigeria's (CBN) redesign of the naira.

The CBN policy, according to Adeyanju, makes it challenging for the opposition to shift money around as elections approach.

The Abuja-based activist, however, said that the strategy will strengthen the economy, according to DAILY POST.

Asked if the new policy would reduce vote-buying during the 2023 elections, Adeyanju said: “It won’t. Politicians always have a way around these things.”

Additionally, he called individuals who hoarded the naira "heartless animals."

According to Adeyanju: “Heartless animals refused to help the poor, but Emefiele has forced them to bring out all the money.

"The redesigning of the naira looks like it’s targeted against opposition political parties because once money goes into the system, it’s the government that determines how much you can get out of the system.

"Yes, it’s a fantastic idea of boosting the economy, knowing that so many looters have physical cash in their hands, so we can now see how smart it is for CBN to have taken such initiative.”

However, he issued a warning against pressing ahead with the new policy's implementation, which begins in December.

Adeyanju advised CBN to hold off on implementing the new policy until after the 2023 elections.

“I do not see the urgency and the spread right before the election. It’s even advisable for CBN to show goodwill by letting the policy take effect after the election, so it’s not seen as a political thing.

This will demonstrate their transparency, the fact that they are not targeting anyone, and the fact that they are not a willing weapon for the ruling party to employ against the opposition.

“It’s a good policy; however, the ideal thing is for the CBN to wait until after the elections to mop up and release the new notes,” he added.

The distribution date for the newly designed naira notes was scheduled by the CBN for December 15, 2022.

N100, N200, N500, and N1000 notes would be released, according to CBN Governor Godwin Emefiele.

Following the revelation by the top bank, the Economic and Financial Crimes Commission, or EFCC, claims it is keeping an eye on the residences of three State governors.

The EFCC thinks the governors had money hidden in their homes.

Source