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Leaked Memo Implicates Acting CBN Governor Folashodun Shonubi In Naira Redesign Saga




Folashodun Shonubi, Acting CBN Governor

Leaked Memo has shown that the Acting CBN Governor Folashodun Shonubi‘s involvement in the Naira Redesign Policy Mess.

BrandNewsDay Nigeria reports that more facts are beginning to emerge as a leaked memo has exposed the major role of the acting governor of the Central Bank of Nigeria Folashodun Shonubi in the Naira redesign policy of the CBN under Buhari.

A leaked memo seen by NewsOnline Nigeria has implicated the acting Governor of the CBN, Folashodun Adebisi Shonubi, as the architect of the controversial Naira redesign policy of the apex bank during the regime of former President Muhammadu Buhari.


Information in the leaked memo reveals that the acting CBN Governor worked hand-in-hand with Godwin Emefiele the disgraced former governor of the apex.

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The internal memo, which was titled: “Memorandum to the Committee of Governors for Currency Redesign.” Contains vital information nailing Folashodun Shonubi in the controversial policy that kept the country on its feet prior to the 2023 presidential election.

It said: “Wholesale hoarding of naira banknotes by members of the public, worsening shortage of fit banknotes in circulation, high and increasing cost borne by the bank as well as high counterfeit risk.”


According to Gatekeepers News the memo prompted Emefiele to set up a task force for the redesign of the Naira.

While Emefiele was the Chairman of the task force, Shonubi and Aisha Ahmad, the Deputy Governor of Financial System Stability, served as Co-Chairmen.

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