Nigeria’s Attorney General of the Federation and Minister of Justice, Abubakar Malami, has stated that the introduction of the naira redesign policy by the Central Bank of Nigeria (CBN) has greatly reduced the rate of kidnappings in the country.
In a recent interview with Radio Nigeria Kaduna, Malami said there were positive sides of the policy that were not considered. Recall that a seven-member panel of the Supreme Court led by John Okoro had restrained the CBN from banning the use of the old naira notes on February 10. The apex court made the ruling in an ex parte application brought by Kaduna state, Kogi state and Zamfara state.
While reacting to the ruling, Malami said: “I told you the case is still in court, we will obey the court order but we also have the right to explain to court the positive sides of the policy. If you see the negative side of it, you have to see the positive sides. If these governors told the court the hardships being experienced as a result of the policy, there are also some problems that the policy is solving.
“I gave you an example of insecurity. Immediately after this policy was introduced, the rampant kidnapping has drastically reduced. It also reduced the rate of corruption, therefore we have the right to go and explain to court these positive sides. The court gave an order without listening to government side but it fixed 15 February to hear from the government.
“Everybody knows part of the reasons Nigerians elected President Muhammadu Buhari is to fight corruption, insecurity and boost the economy. The policy was introduced considering these and we will ask the court to look at both sides of it.”
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