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| Central Bank of Nigeria |
The Chairman of the Economic and Financial Crimes Commission
(EFCC), Abdulrasheed Bawa, has said the dollar might drop to ₦200 after the
redesigning of naira.
Bawa stated this in an interview with Deutsche Welle (DW)
Hausa service, saying President Muhammadu Buhari did well to approve the
redesigning.
He said, “The law says the redesigning of Naira notes should
be done every eight years but we spent 20 years without any changes on them.
And that resulted to 85 per cent of money are in circulation not in banks, when
CBN came up with this redesigning, dollar moved to 880 and later dropped to 680
or thereabouts.
“So you see with this redesigning dollar may massively fall,
who knows probably to ₦200.”
The EFCC chairman also added that there is no any political
motive behind the idea and called on Nigerians to report any person with
siphoned monies.
“There is no political motive in this; some people siphoned
and hid public funds that is why we want them to bring them out and nobody says
they should not bring them, what government says is let them deposit such money
in banks.
“We assure Nigerians that we are always ready to receive
reports of any person with suspicious hidden money and if investigated to be
true, we will give 5 per cent of the money to them,” he added.