- By Halimah Olamide
The presidential candidate of the Labour Party, Peter Obi, on Sunday asked Nigerians to exercise some patience with the Central Bank of Nigeria over complications arising from the new naira distribution.
His intervention came amidst worrying developments over the scarcity of the New notes and the acute lack of money in circulation.
The development has caused social unrest and may become more pronounced in the new week.
https://twitter.com/PeterObi/status/1622123088828588033“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,” Obi said in a tweet via his verified handle on Sunday.
“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,” said Mr Obi, who was the chairman of Fidelity Bank before becoming the governor of the South-east state of Anambra.
Worried by the anxieties for the economy however, Obi urged the apex bank to ensure it moves fast to douse tension.
He asked the CBN 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.