Former Nigerian lawmaker, Shehu Sani has alleged the Central Bank of Nigeria, CBN, is now bankrupt of ideas.

Senator Sani also stated that the redesigning of the naira and cash withdrawal restrictions have failed to achieve their purpose.

The statement was contained in a post via his verified Twitter handle on Wednesday.

The former lawmaker said the CBN suspension of international cards transaction on naira has failed to significantly improve the value of our local currency.

He wrote: “Cash withdrawal restrictions, redesigning of the naira, raiding bureau de change shops, China currency swap and suspension of international cards transactions on the Naira has all FAILED to significantly improve the value of our local currency. The CBN is bankrupt of ideas.”