The Acting Governor of the Central Bank of Nigeria, Folashodun Adebisi Shonubi, has been unveiled as the architect of the controversial Naira redesign policy of the apex bank during the regime of former President Muhammadu Buhari, a memo seen by Gatekeepers News has revealed.
According to the memo, Shonubi worked with the now detained Governor of the CBN, Godwin Emefiele, on the policy.
The internal memo, which Gatekeepers News published on Sunday, was titled: “Memorandum to the Committee of Governors for Currency Redesign.”
It was dated August 2022 and approved by Shonubi, who was then the Deputy Governor in charge of Operations.
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.”
Gatekeepers News said it gathered that 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.
