The Human Rights Writers Association of Nigeria (HURIWA), has warned that planned redesign of the three banknotes by the Central Bank of Nigeria (CBN) will tumble the value of the naira and further destabilise the economy. HURIWA which stated on Saturday, in statement backed the Minister of Finance, Budget and National Planning, Zainab Ahmed, who warned of “serious consequences on the value of the naira against other foreign currencies” if the nation's apex Bank went on with the plan to redesign the N200, N500, and N1,000 notes.
October 29, 2022HURIWA which stated on Saturday, in statement backed the Minister of Finance, Budget and National Planning, Zainab Ahmed, who warned of “serious consequences on the value of the naira against other foreign currencies” if the nation's apex Bank went on with the plan to redesign the N200, N500, and N1,000 notes.
SaharaReporters reported that Nigeria's apex Bank had on Wednesday, announced its plan to redesign some naira notes. Aligning with the finance minister's opposition to the plan, HURIWA in the statement signed by its National Coordinator, Emmanuel Onwubiko, described the plan as a"money-guzzling gambit" that would destabilise the economy.
The statement partly read, “Nigeria is indeed troubled with a so-disorganised Federal Government to the extent that the finance minister now openly disagrees with the CBN governor over the country’s cardinal fiscal policies! No doubt, this portends danger to the nation’s economy and financial management.