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Naira Scarcity: Be Patient with CBN, FG, Peter Obi Tells Nigerians

Ogochukwu Isioma by Ogochukwu Isioma
February 5, 2023
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•Mr. Peter Obi

•Mr. Peter Obi

By Ogochukwu Isioma

 

Amid the scarcity of the newly redesigned naira notes, Mr. Peter Obi, Labour Party (LP) presidential candidate, has called on Nigerians to be patient with the authorities.

metrowatchxtra.com reports that the Central Bank recently embarked on redesigning of N200, N500 and N1,000 naira notes. The unavailability of the notes to Nigerians have caused untold hardship on the citizens, leading to protests.

Obi, who said redesigning of currency is not peculiar to Nigeria alone, said it was an exercise that comes with inconvenience and pain.

He, however, said such inconvenience and pain has significant long-term economic and social benefits.

READ ALSO  Tinubu Absent as Atiku, Obi Shine at NBA Event in Lagos

Taking to Twitter early Sunday morning, the former Anambra governor called on Nigerians to exercise patient with the Central Bank of Nigeria and the county’s government.

According to him, “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,” Obi tweeted.

Tags: CBNNaira ScarcityPeter Obi
Ogochukwu Isioma

Ogochukwu Isioma

Ogochukwu Isioma is a Bachelor's degree holder in Linguistics (Hons) from the University of Benin, and a Master's student in International Affairs and Diplomacy at the Amadu Bello University, Zaria. With over half a decade-long active journalism practice, Ogochukwu is the Founder and Publisher of popular education-focused online medium, CAMPUS GIST, and currently writes for METROWATCH. He can be reached via ogochukwuisioma@gmail.com.

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