The Presidential Candidate of the Labour Party, LP, Peter Obi has backed the Naira redesign policy of the Central Bank of Nigeria, CBN, despite the excruciating hardship it brought to the country.
Obi urged Nigerians to endure the hardship, stressing that currency redesign normally comes with some inconvenience and pain.
According to him, Nigerians will reap the economic and social benefits of the reforms in the long term.
He, however, admitted that there are improvements that can be made, imploring the CBN and the banks to expedite efforts to make the new currency available to Nigerians, especially those living in the rural areas.
In a series of tweets, Obi wrote: “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 – PO”
