Nigeria’s Currency Redesign May Be Declared Illegal In Court

Human rights lawyer, Femi Falana, faulted the recent endorsement of the naira redesign by President Muhammadu Buhari, saying the policy may be declared illegal in court. <br />The Central Bank of Nigeria earlier said it will redesign the N200, N500, and N1,000 notes to take control of the currency in circulation. <br />The Minister of Finance, Budget and National Planning, Zainab Ahmed, said she wasn’t consulted by the apex bank on the initiative, Buhari backed the CBN Governor, Godwin Emefiele, saying he is fully in support of the policy. <br />Falana, says the President is expected to present a money bill to the National Assembly for approval before the actualisation of the policy.