Currency Redesign Has Socio-economic Benefits –Obi

Forum 1 year ago

Currency Redesign Has Socio-economic Benefits –Obi

Labour Party president candidate and former governor of Anambra State, Mr Peter Obi, has urged Nigerians to bear with the Central Bank of Nigeria (CBN) and the Federal Government in the naira redesigning programme, saying it is not perculiar to the country.

Obi, in a message yesterday, said that despite the fact the currency redesign comes with some inconveniences, it has long-term benefits

He urged the CBN and banks to do everything possible to make the new notes available.

Obi’s statement reads: “The currency redesign is not peculiar to Nigeria. It is an exercise that comes with some inconvenience and pain, but it has significant longterm economic and social benefits.

“Even though there are improvements that can be made, I urge Nigerians to bear with the CBN and Federal Government with the hope that the general populace and Nigeria will harvest the gains that will come with the reforms.

We equally implore the CBN and the banks to expedite efforts to make the new currency available to small depositors and the unbanked in order to reduce the pains of my fellow Nigerians, especially the underprivileged and those living far away from banks in the rural areas.”