Naira redesignation: CBN bankrupt of ideas, says Shehu Sani



Shehu Sani, Former Nigerian lawmaker, has accused the Central Bank of Nigeria, CBN, is bankrupt of ideas over withdrawal restrictions.

Sani revealed that naira redesignation and restrictions on cash withdrawal have failed to achieve their purpose initial purpose.

Thus much was contained in a pot on his official Twitter handle on Wednesday.

He said that the suspension placed on International cards transaction on naira has failed to significantly impact the value of naira.

“Cash withdrawal restrictions, redesigning of the naira, raiding bureau de change shops, China currency swap and suspension of international cards transactions on the Naira has all FAILED to significantly improve the value of our local currency. The CBN is bankrupt of ideas.” He tweeted.


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