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CBN Gets Falana’s Letter to State New Naira Notes Distributions Analysis to Banks

Femi Falana

Femi Falana, a rights advocate and Senior Advocate of Nigeria, has written to the Central Bank of Nigeria requesting information about the number of fresh naira notes delivered to commercial banks all around the nation.

In addition, Falana ordered that the CBN hand over a list of customers who had taken out more money than the N100,000 limit permitted by the central bank.

Politicians are to blame for hoarding the new notes, according to the CBN, which has insisted that it printed enough fresh N200, N500, and N1,000 notes to go around.

Yet in a letter dated February 16, 2023, and signed by Femi Adedeji, ESQ, Falana Chambers demanded that the CBN reveal specifics regarding how the new notes were distributed to commercial banks.

You can read more of such stories at The Cheer News.

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“Our attention has been attracted to your comments in which you claimed that some unnamed politicians have scooped up the fresh naira notes made accessible to all commercial banks by the Central Bank of Nigeria,” Falana’s letter said in part.

Falana said: “We are constrained to require you to give us with information concerning the amount of the intended notes of N200, N500 and N1,000 denominations made accessible to each commercial bank by the Central Bank of Nigeria.

“Moreover, we want that you provide us with a list of commercial bank clients who have collected more than N100,000 from commercial banks that you have approved.”

He also warned legal action if the CBN did not deliver the material within seven days.

“As this request is made pursuant to the provisions of the Freedom of Information Act 2011, you are required to accede to our request within seven days of receiving this letter.

“TAKE NOTICE that if you fail or refuse to furnish us with the requested information before the deadline of seven days we shall not hesitate to pray the Federal High Court to compel you to accede to our request, ” Falana said.

You can read more of such stories at The Cheer News and Credible News.


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