 An northern group under the auspices of Iowa Youth Consultative Forum has backed the narrow redesign and the cash withdrawal policy by the Central Bank of Nigeria CBN saying it will help address vote buying and all forms of corruption ahead of next year's elections. The group says the economy has suffered heavily as details at June indicate that 2.72 trillion naira out of the 3.26 trillion naira currencies in circulation are outside the vaults of commercial banks. Plus, the venue's correspondent, Habila Daroufai's report is presented from our studios. Since the announcement of naira redesign by the Apex Bank, it has been greeted with controversies among Nigerians. Speaking in Kaduna, the national president of the Forum Yerima Shatima said the current development will ensure an effective monetary policy. We are in support of any policy review by the CBN that could help boost the value of national currency, even if we hope politicians who have hidden billions in cash would intend to buy or buy up voters in the forthcoming dinner election. Two, we reject the situation where the national security will be threatened by sponsored political violence using cash from sokaway, farmhouses and other illegal vaults. Shatima explained that it will be suicidal for the policy to be reversed due to pressure from few individuals seeking selfish interests. He stressed that the policies will help revive the nation's economy and address terrorism financing. We wish to make it categorically clear that the action of CBN was backed by constitution and the rule of law. The CBN has acted within the limit of its monetary policy powers. On this scenario is the design policy. The management of CBN relied on Section 2B, Section 18A and Section 19A and B of the CBN Act, 2007, as a mandate. Add to the presidential approval as provided by the laws of the land. 10, we believe that the revised cash withdrawal was part of the component of economic reform policy that will help revive our national economy and ensure stability in the fight against terrorism financing. Shelfful level of official corruption and thievery by the section of political class for more than a decade. The forum lamented the unfolding negative campaign which it claimed is funded by enemies who are against the growth and development of the nation. Hello, hope you enjoyed the news. Please do subscribe to our YouTube channel and don't forget to hit the notification button so you get notified about fresh news updates.