Currency redesign: bear with CBN, Obi urges Nigerians


Mr Peter Obi, the Labour Party’s presidential candidate has urged the Central Bank of Nigeria to make new naira notes available to small depositors and the unbanked.

This is as he called on Nigerians to bear with the CBN over the unavailability of cash.

According to him, he said the policy, despite its pain and inconveniences, also comes with long-term economic benefits.

He, however, urged Nigerians to bear with the apex bank, saying that Nigerians will harvest the gains.

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 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”