Naira Scarcity: Human Rights Group, CRRAN Seeks Amendment Of Central Bank Act To Punish Culpable Board Members | Sahara Reporters

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Human rights organisation, the Civil Rights Realisation and Advancement Network (CRRAN), has stated that the incoming 10th National Assembly should pay urgent attention to amend the Central Bank Act and provide serious term of imprisonment for Board of the bank when it makes wrong policy that becomes disastrous for the country.

Reviewing the prevailing currency scarcity with the attendant economic consequences for the country, the CRRAN President, Mr Olu Omotayo, claimed that the Board of Central Bank had recklessly and wrongly advised the Presidency that it had printed enough new currency before embarking on this misadventures naira policy, a claim that turned out to be false.

Blaming the Board for the current economic crisis as a result of currency swap, the group noted that in other jurisdiction, the entire Board of the Central Bank would be facing prosecution for"this ignominious act." "So Nigeria should not be an exception if the country actually wants to free its’ citizens from cocoon of poverty and moved ahead with other civilized and successful countries of the world.

 

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