Currency redesign will expose corrupt rich people – Nadabo

An Economics lecturer at Federal University Gusau, Dr. Ibrahim Shehu Nadabo, has stressed the need for urgent and immediate redesigning of the Nigerian currency as proposed by the Central Bank of Nigeria Governor, Godwin Emefiele.

Nadabo explained that many people have corruptly enriched themselves, stocked money in their private rooms as they could no longer take it for banking for fear of being questioned by the Economic and Financial Crimes Commission (EFCC) and other anti-graft agencies.

He noted that once there is immediate redesigning of currency, “it’s either they begin to buy dollars in with the money, or loose all what they have stocked.”

According to him, most politicians refused to take their loot to the bank for fear of being arrested.

“So, if there is immediate redesigning of currency, it’s either they begin to dash the poor, buy foreign currency or the huge sum kept in their bedrooms become useless,” he said.

He pleaded with the EFCC, and other anti-graft agencies to beam their search lights on banks and other strategic places as those rich men would begin to bring out their dubious wealth to exchange for dollars or pay into bank account of their relatives and friends.