NIGERIA- The presidential candidate of the Labour Party, Mr Peter Obi, has urged Nigerians to bear with the Federal Government and the Central Bank of Nigeria (CBN) over the redesigned naira notes.
Following the introduction of the redesigned N200, N500 and N1,000 banknotes by the apex bank, Nigerians have continued to experience nationwide scarcity of the naira.
But taking to his Twitter handle on Sunday, Obi called for patience, saying he hopes the masses will harvest the gains that will come with the reforms.
He stated that currency redesign is not peculiar to Nigeria, adding that the policy comes with some pains but has benefits in the long-term.
“The currency redesign is not peculiar to Nigeria. It is an exercise that comes with some inconvenience and pain but it has significant long term economic and social benefits. Even though there are improvements that can be made,” he tweeted.
“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.”
