The Nigerian civic organization HURIWA has called for the resignation of Central Bank Governor Emefiele.
HURIWA issued a statement on Saturday in which it backed the Minister of Finance, Budget and National Planning, Zainab Ahmed, who warned of "serious consequences on the value of the naira against other foreign currencies" if the nation's apex Bank went forward with the plan to redesign the N200, N500, and N1,000 notes. HURIWA's statement was issued in support of the Minister of Finance, Budget and National Planning.
The Human Rights Writers Association of Nigeria (HURIWA) has issued a warning that the Central Bank of Nigeria's (CBN) proposed redesign of the three banknotes will cause the value of the naira to plummet and further destabilize the economy. HURIWA issued a statement on Saturday in which it backed the Minister of Finance, Budget and National Planning, Zainab Ahmed, who warned of "serious consequences on the value of the naira against other foreign currencies" if the nation's apex Bank went forward with the plan to redesign the N200, N500, and N1,000 notes. HURIWA's statement was issued in support of the Minister of Finance, Budget and National Planning. According to SaharaReporters, Nigeria's top Bank said on Wednesday that it intends to redesign part of the naira notes now in circulation.
While announcing the proposal at a press conference, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, mentioned that the new design notes will become operational beginning in December of 2022.
Emefiele had previously stated that the impacted new notes would comprise denominations of N200, N500, and N1000. He had advised Nigerians to bring their old currency to banks in exchange for the new currency. In a statement that was signed by HURIWA's National Coordinator, Emmanuel Onwubiko, the organization branded the idea as a "money-guzzling gambit" that would destabilize the economy. This objection to the plan is in line with the criticism expressed by the minister of finance.
According to the organization, the Governor of the CBN had once again demonstrated his incompetence through the use of the sham plan, which can be described as "motion without movement."
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However, it urged the National Assembly to initiate proceedings for the central bank governor's impeachment because President Muhammadu Buhari has refused to fire him and put an end to Nigeria's financial troubles.
A portion of the message went as follows: "Nigeria is indeed struggling with a Federal Government that is so disorganized to the point that the country's finance minister now openly disputes with the CBN governor on the country's key budgetary policies! Without a shadow of a doubt, this portends trouble for the nation's economy and the handling of its finances.
"The quarrel and embarrassing public spat between Ahmad and Emefiele reflect the lack of national planning as well as inter-agency and inter-ministerial coordination of high echelons of the government of President Muhammadu Buhari," according to the article.
"This is not the first time that Buhari's departments and agencies have been involved in a dispute of this despicable nature. A drawn-out disagreement on the hiring of police constables has been going on between the Police Service Commission and the Nigeria Police Force for several months at this point.
"In April of 2021, the National Bureau of Data resorted to Twitter in order to engage in a dirty fight with the Minister of Labour and Employment, Chris Ngige, over his criticism of the National Bureau of Statistics' employment statistics. There is no end to the examples of Buhari's it-doesn't-concern-me attitude, despite the fact that there are plenty of them.
"HURIWA dismisses the redesigning of the naira as a money-guzzling gambit that will tumble the value of the naira to the dollars as seen at the moment already after the argument by the finance minister. "[T]he HURIWA dismisses the redesigning of the naira as a money-guzzling gambit that will tumble the value of the nair
We are calling on the National Assembly to either remove the governor of the Central Bank of Nigeria (CBN) or impeach him with a two-thirds majority vote in order to force President Buhari to fire him.