Home News Naira Redesign: More Governors Under Watch  ― EFCC

Naira Redesign: More Governors Under Watch  ― EFCC

by Our Reporter
Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has said that the number of governors being monitored by the Commission for possible money laundering arising from the redesign of the naira is rising.

Speaking to correspondents after a meeting with President Muhammadu Buhari at the Presidential Villa Abuja on Thursday, he however declined to give the exact number of state chief executives involved.

The anti-graft agency had previously revealed that three governors were being watched on the suspicion that may attempt to launder stashed of cash in their possession that they may not be able to lodge in the bank before the deadline by the Central Bank of Nigeria (CBN) to return old notes for redesign.

Bawa commended the apex bank’s initiative to redesign some naira denominations, describing it as a significant process in the country’s fight against financial crimes and other forms of corruption.

He maintained that the huge amount of the country’s currency outside the possession of the CBN makes tracking of financial crimes difficult, noting that the naira redesigning is an opportunity for the government to regain control over flow of cash in the country.

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