The Auditor-General of the Federation don expose say Central Bank of Nigeria (CBN) under former Governor Godwin Emefiele re-circulate dirty naira notes wey total N29.77bn, wey violate CBN own Clean Note Policy.
The wahala dey inside Auditor-General Annual Report on Non-Compliance and Internal Control Weaknesses for MDAs, wey cover year wey end 31 December 2022. The report talk say plenty CBN branches dey issue notes wey dem don mark as “Counted Audited Dirty”, meaning notes wey no fit dey circulate.
Audit report show say CBN release these dirty notes for Abuja, Lagos, Bauchi, and Jos from April to December 2022. Abuja branch carry majority of the wahala, N28.615bn na Oct–Dec 2022. Lagos branch release N970m, Bauchi N30m, Jos branch release N50m and N100m on May 16 and May 27, 2022.
Auditors talk say:
Audit see say Counted Audited Dirty notes worth N29,765,000,000.00 re-enter system again by CBN”Dem explain say this break Clean Note Policy Version 0.1 (2018) wey say only fit notes suppose enter circulation, while unfit notes no suppose release by CBN or commercial banks.
Dem blame weak internal control inside CBN. Dem warn say re-circulating dirty notes fit spoil Nigeria image and reduce naira lifespan.
CBN try explain for different branches. Abuja branch blame COVID-19 and cash shortage. Bauchi branch deny say dem release unfit notes. Jos branch talk say military cash need make them release am. Lagos branch blame Christmas season demand.
But Auditor-General reject all these explanations, talk say dem no satisfy. Dem insist say findings go remain valid until CBN take proper action.
Dem recommend say CBN Governor suppose appear before National Assembly Public Accounts Committee to explain, and if no fit, apply sanctions under Financial Regulations.
Report still show say this wahala happen alongside CBN naira redesign programme wey start October 2022, wey cause cash scarcity, legal wahala, and Supreme Court later extend old notes validity.
Audit also talk say delayed destruction of unfit notes dey problem. 997 boxes of N10 notes worth N99.7m, declared unfit since Nov 2021, still dey vault Oct 2023. Also, 695 boxes of N500 notes worth N3.475bn never destroy. Total N3.57bn unfit notes dey accumulate because of delay for briquetting and disposal.
Auditors warn say delay fit cause theft, loss of public funds, and inefficiency. CBN talk say destruction don start, but auditors no accept am.
This wahala add pressure on Emefiele, wey already dey face multiple corruption charges. Audit no directly accuse am, but CBN management during that period dey responsible.
Federal Government through EFCC and Attorney-General dey prosecute Emefiele for 19-count fraud case in Lagos and 20-count procurement case in Abuja, plus other pending charges.
Bank workers and customers complain say old dirty notes wey CBN reintroduce fit carry disease.
Las las, all of them dey run am, na when the other person no sort na em e go cast.
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