Obi backs FG on Naira notes redesign, says policy has long-term economic benefits
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Peter Obi, presidential candidate of the Labour Party
The presidential candidate of the Labour Party, Mr Peter Obi, has commended the federal government and the Central Bank of Nigeria, over the new Naira redesign.
The former governor of Anambra State while acknowledging that the exercise comes with some inconvenience and pain, said that it has significant long-term economic and social benefits.
Obi also appealed to Nigerians to bear with the apex bank and the Federal Government, adding that the Nigerians will harvest the gains that will come with the reforms.
The presidential hopeful, however, urged the CBN and the banks to speed up efforts to make the new currency available to small depositors and the unbanked in order to reduce the pains of Nigerians.
He said, “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 Central Bank of Nigeria (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.”
