Naira Redesign: Falana Reveals How Much New Notes CBN Printed

Human rights lawyer and Senior Advocate of Nigeria (SAN), Femi Falana, has revealed that the Central Bank of Nigeria (CBN) only printed 402 billion Naira during the redesign policy of the former government of Muhammadu Buhari.

Naija News reports that the SAN, on Monday, while speaking on Channels Television’s Sunrise Daily, said of all the 3.2 trillion Naira the apex bank collected from various sources, the bank only printed 402 billion new notes to circulate.

Recall that the CBN, during the administration of gormer President Muhammadu Buhari, announced a Naira Redesign policy to phase out the old N200, N500 and N1000 notes with new ones.

Falana said he took legal action by invoking the Freedom of Information Act and submitting a request to the Central Bank to disclose the exact amount of money that had been printed.

Falana said, “I had to write to the central bank under the Freedom of Information Act to know how much was printed.

“To my utter dismay, the central bank collected about 3.2 trillion from customers and others the bank only printed 402 billion naira.”

The human rights lawyer admonished the government to use the law to fight corruption and gather essential information to protect the interests of the people.

He said, “We must take advantage of the law and use the law to enforce corruption and get information to defend our people.”