In a recent statement, renowned Human rights lawyer and Senior Advocate of Nigeria (SAN), Femi Falana, has raised serious allegations against the Central Bank of Nigeria (CBN) and its suspended Governor, Godwin Emefiele. Falana accused them of deceiving the Nigerian public regarding the availability of cash during the implementation of the naira redesign policy.
Falana has called upon the Federal Government to take legal action against Emefiele and the CBN’s management for incitement and culpable homicide. He asserted that they misled the nation by claiming that sufficient cash had been distributed to commercial banks, contrary to the reality.
The accusations stem from the mass public outrage triggered by a cash crunch, leading to customers resorting to destructive measures, including burning bank buildings and destroying Automated Teller Machines (ATMs) in various states.
Falana demanded that the CBN undertake the responsibility of rebuilding the damaged bank structures and compensating the families of those affected by the ensuing violence, which claimed lives and caused injuries. He emphasized the importance of holding accountable those responsible for the misinformation that exacerbated the situation.
The crux of the issue lies in the contrasting numbers – while the CBN reported mopping up a substantial N3.5 trillion, only N402 billion was allegedly disbursed during the implementation of the currency redesign policy. Falana emphasized the need for transparency and accuracy in reporting such critical financial information.
Furthermore, he highlighted the imperative role of the Supreme Court in alleviating the crisis by extending the deadline for the withdrawal of the old Naira notes to December 31, 2023. Without this intervention, the situation could have been significantly more challenging for the Nigerian populace.
Falana concluded by urging accountability and transparency, advocating for justice for those affected, and emphasizing the need for corrective actions to prevent similar incidents in the future. The unfolding events will be closely watched by the public and stakeholders, awaiting decisive actions to address the concerns raised
