Bandits, Kidnappers Are On Break Due To Naira Redesign – Ngige

The Minister of Labour and Employment, Chris Ngige, says the naira redesign policy of the Central Bank of Nigeria (CBN) has reduced the criminal activities of bandits and kidnappers in the country.

Naija News reports that the former Governor of Anambra State stated this on Wednesday during an interview on Channels Television’s programme, Politics Today.

According to the minister, the controversial policy is a good one that has curbed insecurity and vote buying during the 2023 general elections.

Ngige, however, admitted that the implementation of the policy was not smooth, adding that the policy inflicted a lot of pain on Nigerians.

He said, “The policy is not smooth in its implementation. I admitted that. But whether it is a good policy? Yes, it is a good policy.

“It wasn’t smooth; it came with some pain but overall, did we get some sound benefits from it? Yes, we did: people didn’t buy votes on the line (queue) during the elections.

“I used to go for elections and I know what I see. There was no cash exchange for votes. It wasn’t easy anymore. Kidnappers are on break, they are on strike so to say or recess. Bandits, they have also gone on holidays.”

Recall that in October 2022, CBN Governor, Godwin Emefiele, announced the plan to redesign the naira to control the money supply and aid security agencies in tackling illicit financial flows.

The redesigned naira notes were unveiled on December 23, 2022, and the deadline for the implementation of the policy was fixed for January 31, 2023, but it was further extended to February 10.