Falana writes CBN to disclose disbursements

Human rights lawyer, Femi Falana (SAN), has written to the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, demanding details of disbursements of the new naira notes to commercial banks. In a letter dated February 16, 2023, Falana said if his request was not granted after seven days, he would file an application […]

Human rights lawyer, Femi Falana (SAN), has written to the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, demanding details of disbursements of the new naira notes to commercial banks.

In a letter dated February 16, 2023, Falana said if his request was not granted after seven days, he would file an application before a Federal High Court to compel the apex bank to act.

Falana said the request became necessary due to Emefiele’s claim that some politicians had mopped up the new naira notes provided to the commercial banks.

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

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“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.

“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.”