On Saturday, the governors of Nigeria held a meeting to discuss the situation of the people in the country.
One of the things that the governors focused on is the issue of changing the structure of the Nigerian currency.
After the meeting, the governors released the results of what they achieved through the president of the Nigerian Governors Association, Aminu Waziri Tambuwal.
Some of the important information contained in the announcement are:
‘The Central Bank of Nigeria is robbing the people’
The document said “we have a fight that what the Central Bank of Nigeria is doing now is to rob the people, not exchange money as the constitution provides.”
The statement added that the reason why the governors are saying this is that the money that people are allowed to withdraw from their accounts after they have returned their old money to the bank, they have not filed a lawsuit.
This is done, according to the statement, by determining the amount that people can withdraw.
Take the freedom of the community
The statement added that the way the Central Bank of Nigeria (CBN) is going in the implementation of this financial reform process is causing concern about the violation of the people’s freedom to get money and use it as they see fit.
Misunderstanding the size of unregistered businesses
The statement said that if we compare the number of unregistered financial transactions, and the small amount of money released by the central bank, it shows that the CBN does not understand the amount of money that is needed to deal with them.
The risk of falling into an economic downturn
The announcement added that the lack of sufficient new currency that the community will be able to mix with is very harmful to the country’s economy.
She said this would lead to “a new backstage currency exchange market, an increase in commodity prices, long queues and overcrowding at ATM withdrawal centers.”
“This has the risk of throwing the country into economic collapse caused by the Central Bank of Nigeria.”
The government should listen to the people’s grievances
The statement said that despite the fact that Nigeria’s Minister of Justice, Abubakar Malami said that the government will obey the court’s decision, there is still no change in the country’s financial system.
Therefore, according to the statement, the government should follow the order of the court and listen to the calls of the community and other stakeholders, including the council of elders.