According to Labour Party, LP presidential candidate Peter Obi, redesigning the Naira will have considerable long-term economic and social advantages despite the short-term pain and annoyance it now causes.
Additionally, Obi asked the Central Bank of Nigeria, CBN, and commercial banks to expedite efforts to make the new Naira notes accessible to Nigerians who lack banking services and small depositors.
He claimed that doing this will assist Nigerians, particularly those who reside in rural areas, feel less suffering.
On Sunday, the former governor of Anambra State published the declaration on his verified Twitter account.
Remember that the lack of fresh Naira notes has caused much misery for Nigerians, who are a large population.
Many have urged the top bank to extend the deadline for replacing the old Naira notes with new ones, but the CBN has stuck on the February 10 deadline that it set.
Obi urged Nigerians to be patient with the Federal Government and the CBN while calling for a reform in the way the new Naira notes are distributed.
The currency overhaul is not unique to Nigeria, he added. Although it is a workout with some discomfort and anguish, it offers substantial long-term economic and social advantages.
“Even if there is room for improvement, I implore Nigerians to put up with the Central Bank of Nigeria and the Federal Government in the hopes that the nation as a whole and Nigeria would benefit from the changes.
In order to ease the suffering of my fellow Nigerians, particularly the poor and those living distant from banks in rural areas, we likewise ask the CBN and the banks to hasten efforts to make the new currency available to small depositors and the unbanked.
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