Peter Obi, the Labour Party’s (LP) presidential candidate, stated that the current pain and inconvenience caused by the redesign of the Naira will result in enormous long-term economic and social advantages.
Obi also encouraged the Central Bank of Nigeria and commercial banks to expedite their efforts to distribute the new Naira notes to small depositors and unbanked Nigerians.
He stated that this is intended to alleviate the suffering of Nigerians, particularly those living in rural communities.
The former governor of Anambra State made the announcement via his verified Twitter account on Sunday.
Recall that the country has been plagued by a shortage of new Naira banknotes, causing unimaginable agony for many Nigerians.
Many have urged the central bank to extend the deadline for exchanging old Naira notes for new ones, but the CBN has stuck on the February 10 deadline it had set.
Obi demanded an improvement in the distribution of the new Naira notes and urged Nigerians to be patient with the Federal Government and CBN.
He wrote, “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, 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.”