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Falana asks CBN for details of new naira notes  distribution 



Femi Falana(SAN)

Senior Advocate of Nigeria(SAN) and Rights Activist, Femi Falana, has written to the Central Bank of Nigeria(CBN) to ask for the breakdown of the amount  of  new naira notes being distributed to commercial banks across the country. 

In the letter, he also demanded that the CBN should provide the list of customers who have at any point since the new guidelines were put in place, withdrawn more than the N100,000 maximum sum approved by the apex bank.

This demand came in the wake of the CBN’s statement that it had printed enough new N200, N500 and N1,000 notes to go round. The CBN also blamed politicians for hoarding the new notes.

The letter was  sent  from the Falana Chambers and signed by Femi Adedeji, ESQ, dating February 16th, 2023. Falana demanded that the CBN should provide details on how the new notes were disbursed to commercial banks.

The letter partly read, “Our attention has been drawn to your statement wherein you claimed that some unnamed politicians have mopped up the new naira notes made available to all commercial banks by the Central Bank of Nigeria.

“We are compelled to request you to furnish us with information concerning the amount of the designated notes of N200, N500 and N1,000 denominations made available to each commercial bank by the Central Bank of Nigeria.

“Furthermore, we also request you to furnish us with the list of customers of the commercial banks who collected more than N100,000 approved by you from the commercial banks.

He further threatened to take legal action if the CBN failed to provide the information in seven days.

“As this request is made pursuant to the provisions of the Freedom of Information Act 2011, you are required to accede to our request within seven days of the receipt of this letter.

“TAKE NOTICE that if you fail or refuse to furnish us with the requested information before the deadline of seven days we shall not hesitate to pray to the Federal High Court to compel you to accede to our request.”

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