African Economist Calls Motives of agitating ruling party governors on Currency Redesign into Question

Dr. Mustapha Akinkunmi, an African economist has berated the governors of the ruling party for their silence about the kidnap of the Chibok girls in the country.

During a recent chat on Channels TV’s breakfast show “Sunrise,” African economist, Dr. Mustapha Akinkunmi, spoke on the recent Naira redesign policy and the resultant effects on Nigerians.

It would be recalled that on the night of 14-15 April 2014, 276 mostly Christian female students aged from 16 to 18 were kidnapped by the Islamic terrorist group, Boko Haram from the Government Girls Secondary School in the town of Chibok in Borno State.

Dr. Akinkunmi who was reacting to the governors’ quick response to the issue of cash scarcity in the country also slammed them for their failure to comment on the Central Bank of Nigeria’s (CBN) action of printing more money than it was allowed according to the CBN Act.

He said:

“They didn’t talk about the Chibok girls, they didn’t talk about the kidnappings but they are now talking about cash. Let’s look at the issue of this cash carefully, before the ruling party, the cash in circulation was about 1.4 trillion, in September last year, it was about 3.4. Keep in mind that we have inflation and recession.”

During the “Sunrise,” interview, he lauded Nigeria’s apex bank, the Central Bank of Nigeria (CBN) for the “great policy” but also faulted it for failing to ensure the tech aspect needed to match the success of the policy was not in place.