Nigerians who possess information about hidden funds may make money from them if they decided to come forward. The EFCC has made a tempting promise to reward those who help find the place where concealed money was found. The EFCC’s guarantee of compensation comes as newly printed Naira notes from the previous 15 years reach circulation before the CBN introduces redesigned Naira notes.
For information on people hoarding naira notes, the Economic and Substantial Crimes Commission (EFCC) has given financial prizes. This pledge was made by EFCC Chairman Abdulrasheed Bawa during an interview with the Deutsche Welle Hausa Service on November 16th.
Whistleblowers will receive 5% of the monies recovered, according to Bawa, the ICIR says.
In addition to emphasizing that the CBN’s action is not political but rather that the government wants to compel people who have hidden money at home to deposit it in bank accounts, the EFCC chairman also spoke about the design of the naira notes. He stated:
“We are requesting that all channels be available to Nigerians and even non-Nigerians. Anyone who has information about someone hiding questionable funds should contact us so that we can look into it. If we find the money, the whistleblower will also receive 5% of the proceeds.
“These taxpayer dollars were stolen, and we want them to pay back. Nobody has been warned not to take this money outside. The government instructed us to put the funds into bank accounts, or else we risk facing sanctions,” he stated. The EFCC chairman cited legal provisions when he said that the naira should be redesigned every eight years.
“Nigeria has gone 20 years without revamping, and the CBN is in the hands of the public with over 80% of the naira not in banks. How therefore can the government be successful? How is it possible for a nation to receive 25% of the benefits of its currency in foreign exchange in just ten days?
New working days and closing times are announced by Nigerian banks. To help Nigerians who have Naira that is about to expire, Nigerian banks have announced modifications to their operating hours. The banks have already stated that they have informed their customers via email and social media of their working hours. Legit.ng recorded specifics about the emails’ content and alterations in this report.
