Human rights lawyer Femi Falana’s law firm has requested information from the Central Bank of Nigeria (CBN) regarding the number of new naira notes that have been distributed to the nation’s commercial banks.
The firm has also demanded a list of clients who collected more than the N100,000 cap set by CBN. Falana’s legal team has warned the CBN of a lawsuit in the federal high court if it fails to provide the information within the stipulated timeframe.
CBN Governor Godwin Emefiele has accused politicians of hoarding the new naira notes, leading to long queues at banking halls and automated teller machines (ATMs).
In response, Falana’s law firm has requested information from the CBN on the revised notes made accessible to commercial banks, stating that the request is made under the provisions of the Freedom of Information Act 2011.
In a letter dated February 16, 2023, Femi Adedeji, an attorney with Falana & Falana’s Chambers, signed the letter, which reads in part, “Our attention has been drawn to your statement wherein you claimed that some unnamed politicians have mopped up the new naira notes made available to all commercial banks by the Central Bank of Nigeria.”
“We are compelled to request you to furnish us with information concerning the amount of the designed notes of N200, N500, and N1,000 denominations made available to each commercial bank by the Central Bank of Nigeria.”
“Furthermore, we also request you to furnish us with the list of customers of the commercial banks who collected more than N100,000 approved by you from the commercial banks.”
“Take note that if you fail or refuse to furnish us with the requested information before the deadline of 7 days, we shall not hesitate to pray the federal high court to compel you to accede to our request.”
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