Naira Crisis: CBN Promises to Provide Information on the Disbursement of New Naira Notes
Some of the controversies surrounding the disbursement of the new naira notes may soon be resolved as the Central Bank of Nigeria (CBN) has promised to honour a request by Senior Advocate of Nigeria, Femi Falana on the issue.
Recall Falana, in a letter dated February 16, 2023, and sent through his law firm pursuant to the Freedom of Information Act 2011, had asked the apex bank to make available information on the disbursement of the redesigned notes to commercial banks in the country.
The letter was signed by Femi Adedeji, a lawyer at Falana and Falana’s Chamber.
“Our attention has been drawn to your statement wherein you claimed that some unnamed politicians have mopped up the new naira notes made available to all commercial banks by the Central Bank of Nigeria,”
“We are compelled to request you to furnish us with information concerning the amount of the designed notes of N200, N500, and N1,000 denominations made available to each commercial bank by the Central Bank of Nigeria.” the letter read.
The CBN in a letter titled – Re: Request for Information on Disbursement of New Naira Notes to Commercial Banks” dated 24th of February 2023 with reference CSD/FOICON/FFC/001/033 responded to the query.
The letter which was signed by Aminu Mohammed Director/Secretary to the Board stated: “We write to acknowledge your letter dated the 16th of February, 2023 on the above matter and wish to inform you that the information being sought, where available, will be communicated to you in due course.”
The request from the SAN came amid the CBN’s insistence that it has disbursed enough funds to commercial banks while a cross-section of Nigerians has accused the apex bank of hoarding cash and not making it available in ATMs and over-the-counter in commercial banks as promised