Naira Scarcity: Buhari’s Top Minister Reveals How CBN’s Policy Affected Kidnappers, Bandits

Naira Scarcity: Buhari’s Top Minister Reveals How CBN’s Policy Affected Kidnappers, Bandits

  • Labour minister Chris Ngige believes the naira redesign policy of the CBN, backed by President Muhammadu Buhari, affected terrorists
  • According to Ngige, bandits and kidnappers have gone on holiday due to the naira scarcity occasioned by the CBN policy
  • The minister further hinted that the policy curbed vote buying during the 2023 general elections

Chris Ngige, minister of labour and employment, has revealed the fate that befell the kidnappers and bandits in Nigeria due to the Central Bank of Nigeria (CBN)'s naira redesign policy.

Ngige disclosed that kidnappers and bandits are on “holiday” owing to the scarcity of naira notes in the country, The Cable reported.

CBN naira redesign policy, bandits, kidnappers, Godwin Emefiele
Ngige hails CBN's naira redesign policy, noting it affected kidnappers and bandits. Photo credit: Chris Ngige, Buhari Sallau
Source: UGC

How CBN's naira policy helped Nigerian govt to tackle banditry, kidnappers

Speaking on Wednesday, March 29, in an interview with Channels Television, Ngige said although the implementation of the naira redesign policy was not “smooth”, there were some benefits.

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The minister noted that vote buying during the 2023 general elections was reduced, however, stated that the implementation of the policy was not smooth, The PUNCH added.

He added that Nigerians no longer have the cash to raise the ransom for kidnappers and bandits.

What Tinubu should do for ‘hardcore civil servants’ immediately after swearing-in reported earlier that the minister of labour and employment revealed one major task the president-elect, Asiwaju Bola Ahmed Tinubu, must embark on when he assumes office.

Ngige, on Wednesday, March 29, said the incoming administration of Tinubu should start discussions on a review of the minimum wage currently obtainable in Nigeria immediately after its inauguration on Monday, May 29.

The minister said the next government should come up with a new minimum wage higher than the current N30,000.

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What Tinubu should do for ‘hardcore civil servants’ immediately after swearing in, Ngige reveals

What Nigerian businessmen expect from Tinubu's election victory

After almost a year of political campaigns, Nigerians took to their different polling units to vote for their preferred presidential candidate on February 25, 2023.

Following intense moments of vote collation, Bola Tinubu, the candidate of the ruling All Progressives Congress, was, in the early hours of March 1, 2023, declared the winner of the election with 8,794,726 votes by the Independent National Electoral Commission (INEC).

Tinubu went ahead of the Peoples Democratic Party's candidate, Atiku Abubakar, who polled 6,984,520 votes, and Labour Party's Peter Obi, who polled 6,101,533 votes. The election is finally over, and it is time to improve every sector of the economy.


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