Emefiele In Secret Plot To Release New Naira Notes To A Presidential Candidate

The Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emiefele is alleged to be planning to release about N30 billion new redesigned currency notes to the presidential candidate of a popular political party in the next 3 days.

Sources alleged that the release would be routed through the Managing Director of a leading commercial bank in a ploy to provide financial advantage to the presidential candidate of the said party following the insistence of CBN of not extending the deadline of January 31 for the exchange of old notes.

Reliable sources within the apex bank revealed that the huge sum to be released to the presidential candidate was responsible for the scarcity of the newly redesigned notes in commercial banks and Automated Teller Machines, ATMs of banks.

“Most of the banks don’t just have the newly designed currency as the available quantity for distribution is being warehouse on the instruction of CBN governor. It is now clear where the fund is to be channelled and why there persists scarcity with less than a week to the CBN imposed deadline, ” a source stated.

It will be recalled that the stated goal of the redesigned currency and limitation on withdrawal was aimed at discouraging money influence on the forthcoming elections as well as promotion of cashless economy.

In recent times, Mr. Emiefele has been involved in many controversies, including allegations of terrorism financing with the Directorate of State Service seeking legal means to investigate him.