EXCLUSIVE: Acting CBN Governor Shonubi Architect Of Controversial Currency Redesign Policy-Memo Reveals
Acting Governor of the Central Bank of Nigeria, Folashodun Adebisi Shonubi, alongside the suspended Governor of the apex bank, Godwin Emefiele were the architects of the controversial redesign of the naira.This was discovered in an internal memo obtained by BAMITOLAMEDIA.
According to the document titled “Memorandum to the Committee of Governors for Currency Redesign” dated August 2022, and approved by Shonubi, the Deputy Governor (Operations), he anchored his case for the redesign of the naira on “Wholesale hoarding of naira banknotes by members of the public, worsening shortage of fit banknotes in circulation, high and increasing cost borne by the bank as well as high counterfeit risk.”See the documents below:
