Naira Redesign Has Two Issues: Moghalu

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Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria, has voiced his displeasure with the string of crises brought on by the central bank’s naira redesign policy.

The terrible suffering and financial loss endured by Nigerians as a result of the CBN’s mishandled implementation of its naira redesign policy and the involvement of the judiciary in central banking operations,

According to Moghalu, demonstrated “clearly how our institutions and Nigeria fail when institutions that are meant to be operationally independent become politicised.”

He claimed that because of their desire to stop the evil of vote-buying and the effective theft of their own money caused by the policy’s implementation failure, Nigerians were caught between the devil and the deep blue sea.


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