The Chairman of the Economic and Financial Crimes Commission, AbdulRasheed Bawa, has lavished praise on the redesigning of naira notes by the Central Bank of Nigeria, saying it would help the country’s economy.
Bawa stated this on Thursday after defending EFCC’s 2023 budget before the Senate Committee on Anti-Corruption in an interview with journalists.
The anti-graft agency boss said, “We welcome the policy, it is a good thing that the country is redesigning its currency, because how can you have an effective monetary policy when you don’t have control over 85 percent of your currencies?
“Out there, people are holding it, people are using it to speculate on foreign currencies, and so coming out with this policy, the government is trying to contend with it. I am sure that we will be able to monitor those people that are holding back this money whether legitimately or illegitimately and the right cause of the law will take its course.”