over the redesigned currency, saying it has “some significant long-term economic and social benefits.”“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,” Mr Obi said in the tweet.
“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.
Mr Obi, however, 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”. Many Nigerians have criticised the CBN and the federal government over the policy, which has brought hardship because of the scarcity of the new notes.
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