The Nigerian Governors Forum (NGF) has set up a six-member committee to participate in the Central Bank of Nigeria (CBN) to address anomalies in the country’s monetary management and financial system, particularly in the issuance of new Naira notes.
The forum stated this in a communique it issued on Saturday at the end of a virtual meeting it held with the CBN Governor, Godwin Emefiele, on Thursday night.
The committee, according to a communiqué signed by the Chairman of the NGF, Aminu Tambuwal of Sokoto State, was chaired by the Governor of Anambra State, Prof. Charles Soludo, with governors of Akwa Ibom, Ogun, Borno, Plateau and Jigawa as members.
The governors said that while not opposing the objectives of the Naira redesign policy, the apex bank should consider the characteristics of households and countries, especially in terms of financial inclusion and underserved locations.
“We, NGF members, received a briefing from the CBN Governor, Emefiele, on the redesign of the Naira, its economic and security implications including the new withdrawal policy.
“The governor is not opposed to the objectives of the Naira redesign policy.
“However, we observe that there is a major challenge that remains a problem for Nigerians (regarding the new Naira note).
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“In the circumstances, the governor expressed the need for the CBN to consider the country’s peculiarities especially as it relates to financial inclusion and underserved locations.”
The governors expressed their determination to work with the leadership of the CBN to fix areas that need policy variation, especially the poorest households, the vulnerable in the society and some other Nigerians who are excluded.
The governors also resolved to collaborate with the CBN and the Nigerian Financial Intelligence Unit (NFIU) to achieve their true goals within the confines of the law.
However, he stressed that the new NFIU Advisory and Guidelines on cash transactions are only outside the legal authority and mandate of the NFIU.
(IN)
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