CBN’s Naira Redesign Political – Obaseki

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Mary Ugwuanyi

Governor Godwin Obaseki of Edo State has dismissed the proposed plot by the Central Bank of Nigeria, CBN, to redesign naira notes as political.

Obaseki described the move as a plan by the ruling All Progressives Congress, APC, to woo voters ahead of the 2023 general elections in Nigeria.

This was contained in a statement issued by Crusoe Osagie, the governor’s media aide, while commissioning the Edo State Peoples Democratic Party, PDP, Women Campaign Council at the Presidential Campaign Secretariat in Benin City.

Obaseki lampooned the Federal Government for the plan, noting that the redesign of the naira should not be the focus at this point as Nigerians are suffering from hunger, poverty, and economic hardship.

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He said, “They say we should all bring our naira and give it to them because they want to change it for us. Is that our priority now? Does changing of currency reduce the price of food in the market? They say they want to change our currency and dollars are going higher every day. We can’t even see dollars again.

“I am an economist and I can tell you categorically that this policy by the CBN and Federal Government has no basis in Nigeria’s economy. There is no reason to do this; the move is purely political as there is no urgency in changing our currency.

“The urgency is on how to get food for our citizens to remove starvation and hunger from the land. The urgency is on how to maintain discipline in our monetary policy so that we can manage our foreign exchange rate because we are import dependent.”

Source: Guardian

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