Abubakar Malami, Attorney General of the Federation and Minister of Justice has said that the introduction of naira redesign policy by Central Bank of Nigeria…

Abubakar Malami, Attorney General of the Federation and Minister of Justice has said that the introduction of naira redesign policy by Central Bank of Nigeria (CBN) reduced significantly the rate of kidnappings in the country.

The AGF, in an interview with Radio Nigeria Kaduna, said there were positive sides of the policy which were not considered.

A seven-member panel of the Supreme Court led by John Okoro had restrained the CBN from banning the use of the old naira notes – N200, N500 and N1,000 – from February 10.

The apex court made the ruling in an ex parte application brought by three states: Kaduna, Kogi, and Zamfara.

Reacting to the ruling on Friday, Malami said, “I told you the case is still in court, we will obey the court order but we also have right to explain to court the positive sides of the policy.

“If you see the negative side of it, you have to see the positive sides. If these governors told the court the hardships been experienced as a result of the policy, there are also some problems that the policy is solving.

“I gave you example of insecurity. Immediately this policy was introduced, the rampant kidnapping has drastically reduced. It also reduced rate of corruption, therefore we have right to go and explain to court these positive sides.

“The court gave order without listening to government side but it fixed 15 February to hear from the government.

“Everybody knows part of the reasons Nigerians elected President Muhammadu Buhari is to fight corruption, insecurity and boost economy. The policy was introduced considering these and we will ask court to look at both sides of it.

”

https://dailytrust.com/naira-redesign-has-reduced-kidnapping-corruption-malami/

It has actually

The truth is that the long term benefits of this naira redesign and cashless policy are enormous. It will reduce kidnapping, corruption, robbery and the volatility of exchange rates. Above all, it will significantly reduce vote buying not just in 2023 but going forward. Meaning that we stand a better chance of having good leaders.

If you are close to politicians, you would have noticed that it is already hitting them very very hard. The idea that the politicians will always be able to lay their hands on as much new notes as they want is a fallacy. Dem no get cash again. And it will get worse for them in as the election approaches.

However, I blame Meffy for the hardship the common man is facing. They should have printed loads of fifty naira notes and filled bank vaults with them. That would have greatly eased the cash crunch, without creating an opening for corrupt politicians to exercise their enterprise due to the quantity of 50s they would require for execution.

Be that as it may, if the Supreme Court is unable to stop the implementation (I earnestly pray so), Nigerians should hang in there for the next 3 weeks to a month when the elections must have been over, then cash would be more available.

I am sure it will all end in praise.

incandescentena:


WTF

There's more re-designed notes hidden in the forest and the politicians hide out than in the hands of the patriotic citizens

The politicians don't have it. Believe me if they did, they won't be running around the whole place.

As per the bandits, they may have sources in the bank who changed some notes for them. But that's where it ends. The setback they would have is the inability of victims to source the raw cash they need for ransome. With time, kidnapping wouldn't be as lucrative as it was, and many of those guys will start looking for alternative sources of livelihood.

Nobody is disputing the conceptual importance of the policy.
However it implementation and timing is thoughtless, dubious and insensitive.

Good policy implementation is meant to be for the good of the majority and not to suffer the majority for the sake of dealing with few unscrupulous elements.

Wooden-headed politicians playing politics with people's lives

Na today you first make sense since I know you. But the price is huge on many Nigerians.

Malami had no sense!

Ddokie:
It has actually

It has reduced insecurity and make people suffer more. Which kain policy be that? It is a hurried policy and not well planned

But has not reduced r@ping. Men are still r@ping their daughters.

Ogun kee you malami

Criminals.


APC? Failure!

APC? Demons!

APC? Looters!

APC? Terrorists!

APC? Criminals!

APC? Liars!

APC? Deceivers!

U sef u just dey yan anyhow

Time to vote

Like for Tinubu (APC)
Share for Obi (LP)

That's good

Very correct but the ordinary people are at the receiving end

The only visible effect of the naira redisign is a reduction in quality of life of Nigerians.

What a dull*rd!!!

That it is not reported does not mean it is not happening.

Attention is focussed on the current cash crises.

One useless kidnapper candidate is very angry his business is not bumming

saphiere:
But has not reduced r@ping. Men are still r@ping their daughters.

Senseless living individual

Hmm! It did not reduce k!#napping. You only asked the people working for you to halt while you get a valid information.

Wtf 🤬

Redesigning the naira notes is okay, but the mode of implementation is very wrong

Ddokie:
It has actually

WTF

I think, There's more of the re-designed notes hidden in the forest and the politicians hide out than in the hands of the patriotic citizens

You’re right.

Nonsense talk,
So naira redesign is a solution to kidnapping
Onisokuso person....
A failure sef , most get something to talk for failing.......

Lol waka any aw if he sure for u....


If Na CFA or Dollar dem call am for ur family dem go find am so continue fooling ursef....


Before them tell us say na NiN now we don dey hear another story...

Aufbauh:
Nobody is disputing the conceptual importance of the policy.
However it implementation and timing is thoughtless, dubious and insensitive.

Good policy implementation is meant to be for the good of the majority and not to suffer the majority for the sake of dealing with few unscrupulous elements.

The timing how? So u want them to do it after they leave power? They have few months left so it is better done now.

it will also stop criminal vote buying by apc/pdp.