2023: Why CBN Should Not Release New Naira Notes Before Elections – Udeogaranya To FG

The proposed new naira notes by the Central Bank of Nigeria have continued to generate mixed reactions as several people have spoken for or against the move.

Consequently, a Presidential aspirant in the 2019 elections, on the platform of All Progressives Congress, APC, Chief Charles Udeogaranya, has warned the federal government of the danger of releasing the new Naira notes before the 2023 general elections.

Udeogaranya hinted that politicians will corrupt bank officials and mop up the new currencies and will only release them on the eve of the elections for vote buying, thereby rendering the entire purpose of the new Naira currency project and the 2023 general elections’ credibility an exercise in futility.

Recall that several other Nigerians have earlier criticized the plan and described it as inconsequential about the monumental challenges that should have been tackled by the FG, than the proposed new naira notes.

On the other hand, some people are solid for the proposed move by the CBN and maintain that the new naira notes when released would help curtail the rate of money hoarding and laundering by criminals and corrupt politicians to the bare minimum.

According to Udeogaranya, the federal government should rather use the opportunity to further encourage Nigerians to participate more in the electronic transaction platforms and boost all necessary infrastructure that supports electronic transactions.

He pointed out that Nigerians who brought old notes before the stipulated deadline should only have their accounts credited with the same value and without an option of cash withdrawals exceeding ten thousand Naira daily, until after the 2023 general elections.

Vanguard noted that Udeogaranya further urged the federal government to enforce the collation of taxes, revenues, transport levies, market levies, and all other levies restricted to electronic platforms until after the 2023 general elections.

He concluded that ” the inability of Nigerians to vote for their conscience in the electoral system is the primary reason politicians do not hold any regard for Nigerians or the needs of the people, after buying their way into Government House. “


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