Naira Redesigning: We Are After Governors Who Hoard Billions Of Naira, EFCC Reveals

Naira Redesigning: EFCC has revealed that the commission is on the lookout for Nigerian Governors who stash billions of Naira.

BrandNewsDay gathers that the Economy Finance and Crime Commission (EFCC) Chairman, Abdulrasheed Bawa, has urged Nigerians to support the CBN’s plan to redesign some Naira notes, as the commission is watching two sitting Governors who hoarded billions of Naira in their houses.

This online news platform reports that Ade Adeoluwa made this disclosure that the commission is after state governors who hoard billions of Naira on their watches.

Meanwhile, EFCC Chairman while during an interview with the Daily Trust on Thursday, he noted that some Governors now use as a strategy to use cash to pay workers’ salaries.

According to him, the commission’s raid on Bureau De Change operators would be sustained until the old Naira notes fade away.
He urged Nigerians to support the system, for the benefit of all, stressing that any cash transaction beyond five million Naira is a crime.

“Already, some State governors have some of this cash stashed in various houses and the rest are now trying to pay salaries in cash in their State.

“I don’t know how they want to achieve that but we have to stop them from doing that. Well, we are working, they have not paid the salaries in cash yet but it is a very serious thing,” he said.

The move by the governors to launder stashed money through a cash payment of salaries is against section 2 of the Money Laundering Prohibition Act.