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From Noah Ebije, Kaduna
Arewa Youth Consultative Forum (AYCF) has said the cashless policy has dealt a deadly blow on politicians who were in the habit of stockpiling monies in soakaways instead of banks.
The forum noted that if the policy is fully implemented, it would reduce threats to national security because there would be less cash in people’s hands to sponsor criminal tendencies.
AYCF National President, Shettima Yerima, at a press conference, yesterday, frowned at campaign of calumny by some Nigerians against naira redesign and cashless policy.
“We, as a group, have followed closely the unfolding negative campaign that is clearly funded by enemies of this country’s economic growth and development. We note with disappointment the way and manner some people are using the media to castigate the CBN Governor and his management for taking bold steps to address the economic challenge facing this country and how some misinformed Nigerians have been trying to undermine the process at take-off.
“We are in support of any policy review by the CBN that could help boost the value of our national currency, even if doing so will hurt politicians who have hidden millions in cash, with intent to buy up voters in the forthcoming general elections. We reject situation where National security will be threatened by sponsored political violence using cash from soakways, farm houses and other illegal vaults.
“It is clear to many Nigerians that wholesale hoarding of naira banknotes by members of the public is now being dealt with by the policy of naira redesign. Long before now, CBN’s available statistics show that cash outside banks consist of over 80 per cent of Currency-in-Circulation (CIC).
