Human rights lawyer Femi Falana (SAN) has called for the prosecution of the suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, and the CBN management over the cash shortage earlier this year. Falana accused them of misleading the public about cash availability due to currency redesign.
In a statement in Sunday, Falana demanded that Emefiele and the CBN management be prosecuted for incitement and culpable homicide. He also called on the CBN to rebuild the bank buildings damaged during the cash shortage and compensate the families of those who lost their lives due to public incitement.
In January 2023, the CBN claimed it had supplied enough cash to commercial banks as per its currency design policy. This led to public anger when the cash proved insufficient, resulting in violence and destruction of bank facilities. Falana’s call for prosecution is based on the revelation that the CBN issued redesigned currency notes worth N402 billion to banks, far less than the N3.5 trillion initially suggested.
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