What would make a government to rebrand their traditional currencies just to edit some graphic designs with excessive amounts of money bills involved to execute such project that doe not mean to brings more values to the currency neither does it boost the economy level of the nation?
Meanwhile such is been an undeveloped country which the implemented bill for such valueless project is big enough to create infrastructures with the potentials of building the masses with valuable skills and otherwise a national financial revenue.
Do we assume it is still one of the money laundering strategies that the government intentionally creates loopholes in other to steal the public funds? Because even after the implementations and execution of Such projects, the same governments clamours that the nation has run out of funds after giving accounts of those irrelevant executed projects.
This can indicate priorities that may not be in line with urgent economic needs. The enormous expenditures spent on the currency’s makeover may seem irrelevant and insignificant, especially when basic infrastructure projects or local community development programs are neglected. In most developing countries, there is a serious challenge in resource allocation resulting in inefficiency. Drawing a conclusion that this implies the government endorses money laundering as its strategy of theft of public funds is quite a leap.
Public accountability is an important factor that can help alleviate suspicion, but secrecy and lack of transparency in public funds management can increase mistrust. Also, if wasteful expenditures are carried out without clear accountability, this might result in the loss of social benefits as well as undermine the economic growth of the country.
There is a need to enhance transparency and accountability in the use of public money, and government expenditure should be based on society’s genuine needs and the country’s economic situation.