Central Bank of Nigeria, CBN governor, Godwin Emefiele, has thrown accusation of partly causing insufficient new naira notes at the doorsteps of the Economic and Financial Crimes Commission, EFCC, Independent Corrupt Practices Commission, ICPC, Nigerian Financial Intelligence Unit, NFIU, and unscrupulous-rich members of the public.
New naira notes have been hard to come by to the point that troubled hordes of common men keep fruitless vigils at banks and Automated Machine galleries.
Emefiele in his latest remarks as usual, paid compliments on the CBN’s cashless policy, adding that one of its chief objectives is to fight the storage of naira notes outside the banks.
The governor levelled allegation of incompetence at the EFCC, ICPC and NFIU for allegedly dropping the ball in matter of apprehending those hoarding money at homes.
“What happens is that when suspicious transactions are reported by the bank to the NFIU, the EFCC and ICPC are obligated to pick those suspicious transactions and investigate them. But of course, what we found in the course of investigating them, those who thought that they were being investigated for those suspicious transactions began to abandon the banks and began to build vaults in their homes.
“That is the reason we’ve seen currency outside the banking industry at N2.72tn out of N3.32tn. This is unacceptable, we want a situation where the CBN is in firm control of the money supply and like I keep saying we have our data,’’ he said.
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