Naira policy: Get saboteurs arrested, prosecuted— Buhari tells CBN

President Muhammadu Buhari has ordered the Central Bank of Nigeria (CBN) to step up its cooperation with anti-corruption organizations in order to resist the efforts of those determined to obstruct the successful execution of the currency re-design policy.

The President ordered the apex bank to ensure that anyone attempting to sabotage the naira redesign program is apprehended and prosecuted.

The President issued the directive yesterday in Abuja during a speech to the nation on the CBN’s currency swap policy. Ado Doguwa, the majority leader of the House of Representatives, had previously informed the President that the APC’s naira redesign policy was hurting the party and making it unpopular.

At the same time, Mr. Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), yesterday pleaded with Nigerians to support the government’s plan to redesign the naira.

President Buhari in his speech to the nation urged the CBN to make sure that any institution or person discovered to have obstructed or sabotaged the implementation of the policy should face the full wrath of the law.

The president said: “I am not unaware of the obstacles placed on the path of innocent Nigerians by unscrupulous officials in the banking industry, entrusted with the process of implementation of the new monetary policy.

“I am deeply pained and sincerely sympathise with you all, over these unintended outcomes.

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“To stem this tide, I have directed the CBN to deploy all legitimate resources and legal means to ensure that our citizens are adequately educated on the policy; enjoy easy access to cash withdrawal through the availability of the appropriate amounts of currency; and ability to make deposits.

“I have similarly directed that the CBN intensify collaboration with anti-corruption agencies, so as to ensure that any institution or person(s) found to have impeded or sabotaged the implementation is made to bear the full weight of the law“, ValidViewNetwork reports.

He maintained that during the extended phase of the deadline for the currency swap, he listened to invaluable pieces of advice from well-meaning citizens and institutions across the nation.

Buhari added:  “Considering the health of our economy and the legacy we must bequeath to the next administration and future generations of Nigerians, I admonish every citizen to strive harder to make their deposits by taking advantage of the platforms and windows being provided by the CBN.

“Let me assure Nigerians that our administration will continue to assess the implementation, with a view to ensuring that Nigerians are not unnecessarily burdened.

“In this regard, the CBN shall ensure that new notes become more available and accessible to our citizens through the banks.

“I wish to once more appeal for your understanding till we overcome this difficult, transient phase within the shortest possible time.’’

The president declared that the new monetary policy had greatly reduced the role of money in politics and had a significant impact on the next presidential election on February 25.

In addition to approving the use of the old N200 note through April 10, Buhari added that this marked a positive change from the past and was a courageous action taken by this administration to establish a solid platform for free and fair elections.