Peter Obi, the presidential candidate of the Labour Party (LP), has expressed his views on the Central Bank of Nigeria’s naira re-design policy (CBN).
Obi said in a personally signed statement on Sunday that such policies anywhere in the world would always come with some inconveniences and pain, and that Nigeria is no exception.
While noting that the policy’s implementation could be improved, the former Anambra State Governor urged Nigerians to bear with the CBN and the federal government and focus on the policy’s long-term benefits.
Obi also directed the CBN and commercial banks to step up efforts to make the new notes available to Nigerians in order to alleviate the hardships being experienced by the people, particularly rural dwellers.
He wrote:
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 – PO.
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 – PO
— Peter Obi (@PeterObi) February 5, 2023