Senior Advocate of Nigeria, Femi Falana, has disclosed that the Central Bank of Nigeria (CBN) collected approximately three point two trillion Naira from various sources but had only printed four hundred and two billion Naira when it tried to phase out the old two hundred, five hundred, and one thousand naira notes with new ones.
Speaking on Monday, Falana berated former central bank governor, Godwin Emefiele, for the currency redesign earlier in the year which led to a scarcity of the naira currency at the time.
In response to these distressing events that followed the naira redesign policy, Falana said he took legal action by invoking the Freedom of Information Act, submitting a request to the Central Bank to disclose the exact amount of money that had been printed.
“I had to write to the central bank under the Freedom of Information Act to know how much was printed.
“To my utter dismay the central bank collected about 3.2 trillion from customers and others the bank only printed 402 billion naira,” he said.