Folashodun Shonubi in fresh scandal over leaked memo on Naira redesign

More information is starting to come to light as a leaked letter has revealed the role played by the acting governor of the Central Bank of Nigeria, Folashodun Shonubi, in the CBN’s revision of its Naira strategy under Buhari.

According to a leaked memo obtained by Platinum Times, Folashodun Adebisi Shonubi, the acting governor of the CBN, was the brainchild behind the contentious Naira redesign strategy that the central bank implemented under previous president Muhammadu Buhari….

According to information in the leaked document, the interim CBN governor collaborated closely with the discredited former governor of the apex, Godwin Emefiele.

The internal memo’s full name was “Memorandum to the Committee of Governors for Currency Redesign.” Contains crucial details that implicate Folashodun Shonubi in the contentious decision that kept the nation operating before the 2023 presidential election

“Wholesale hoarding of naira banknotes by members of the public, worsening shortage of suitable notes in circulation, high and rising costs borne by the bank as well as high counterfeit risk,” it stated.

According to report Emefiele formed a task force to revamp the Naira after receiving the document.

Shonubi and Aisha Ahmad, the Deputy Governor of Financial System Stability, acted as Co-Chairmen of the task committee while Emefiele served as its Chairman.

Acting CBN Governor Folashodun Shonubi is tangled up in a stamp duty dispute with governors.

According to Platinum Times Nigeria, the acting governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, is having issues with the state governors over the non-payment of stamp duty.

State governors are now prepared for a protracted battle with the CBN under acting Governor Folashodun Shonubi and the federal government, especially as the country experiences a cash crunch that continues to bite.

The issue of the accumulated funds generated from Stamp Duty since 2015 when President Buhari took office has been on the front burner since during the tenure of disgraced CBN governor, Godwin Emefiele.

The issue, which remains unresolved, appears to be making a comeback.