“The Currency Redesign Is An Exercise That Comes With Some Inconvenience And Pain But It Has Significant Longterm Economic And Social Benefits” – Peter Obi Speaks On Naira Scarcity

Peter Obi, Nigerian Presidential candidate of Labour Party (LP) has spoken out about the new naira redesign by the central bank of Nigeria.

The former governor said in a post on his microblogging platform, Twitter that the currency redesign is an exercise that comes with some inconvenience and pain but it has significant longterm economic and social benefits.

In his words; “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”.

The current situation of the country since the naira redesign has been very tough, Nigerians have not been finding it easy as the new naira is very scarce in the market and banks.