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Emefiele also said that the plan to redesign the naira follows the need to curtail the activities of corrupt politicians and terrorists who have hoarded the old notes obtained through various illegal means.
However, a resident of the village, Mohammed Ibrahim, who spoke on the matter said that the villages are working effortlessly to raise the money.
Ibrahim also noted that the terrorists have also reduced the ransom from N10 million to N5 million but still maintain the condition that the money will be paid in the new naira notes.
“As we were trying to gather the money demanded by the terrorists, they sent another message this morning that they would not collect old naira notes.