The Nigeria Governor Forum has set up a committee headed by the Governor of Anambra State, Prof Charles Soludo to interface with the Central Bank of Nigeria on the withdrawal policy.
Other members of the Soludo Committee are the Governors of the Akwa Ibom, Ogun, Borno, Plateau and Jigawa States.
The NGF in a communique issued after its meeting on Thursday and signed by its Chairman, Aminu Waziri Tambuwa Governor, Sokoto State, mandated the committee to engage the bank on perceived anomalies in the latest monetary policy and the financial system.
It was stated in the communique that the Governors are not opposed to the objectives of the Naira redesign policy.
The meeting focused on the economic and security implications of the withdrawal policy of the CBN.
The Governors observed that while the NGF would collaborate with the CBN, and the Nigerian Financial Intelligence Unit, the recent advisory by the NFIU on cash transactions were not within the powers of the agency.
“We, the members of the Nigeria Governors’ Forum (NGF), received a briefing from the Governor of the Central Bank of Nigeria, Mr Godwin Ifeanyi Emefiele, on the Naira redesign, its economic and security implications including the new withdrawal policy.
“Governors are not opposed to the objectives of the Naira redesign policy.
“However, we observe that there are huge challenges that remain problematic to the Nigerian populace. In the circumstances, Governors expressed the need for the CBN to consider the peculiarities of States especially as they pertain to financial inclusion and under-served locations and resolved to:
1. Work closely with the CBN leadership to ameliorate areas that require policy variation particularly the poorest households, the vulnerable in society and several other citizens of our country that are excluded.
2. Collaborate with the CBN and the Nigerian Financial Intelligence Unit (NFIU) in advancing genuine objectives within the confines of our laws, noting that the recent NFIU Advisory and Guidelines on cash transactions were simply outside the NFIU’s legal remit and mandate.
3. Finally set up a 6-member Committee to be Chaired by the Governor of Anambra State, Professor Charles Soludo and the Governors of the following States: Akwa Ibom, Ogun, Borno, Plateau and Jigawa as members, to engage the CBN in addressing anomalies in the country’s monetary management and financial system.” The communique reads.
