Emefiele Begs Nigerians To Support Naira Redesign Policy
- Preaches long term economic benefits for Nigeria
BY EDMOND ODOK – Hours after President Muhammadu Buhari amplified the ban on the old N500 and N1000 notes as legal tender, Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has begged Nigerians to support the Naira redesign policy and allow it work for the overall good of the country.
Explaining that the current pains and tough times associated with the policy were only temporary, Mr Emefiele said that overall the policy would enhance government’s fight against corruption and also boost the economy.
The CBN Governor, who addressed State House Correspondents after meeting the President at the Presidential villa in Abuja on Thursday, said; “The truth is that we are all servants. We are serving Nigerians.
“As far as we are concerned, the Attorney General of the Federation has spoken on this matter and the President has sealed the whole issue this morning in his broadcast. I think I can only just appeal to Nigerians, let’s allow this policy to work.”
According to him; “This is one policy that goes to reduce the problem of corruption and illicit financial flaws; this policy goes to resolve some of the problems in the economy; this policy also goes to reducing the level of insecurity in the country.
“So, these three issues which are the tripod of this administration’s policy are all embedded in this policy. We should just allow it to work. We keep saying this, there are some temporary pains, but I can assure Nigerians that the long-run benefit to Nigeria is overwhelming and we should just give it a chance to work.”
The CBN Boss further said that arising from the President’s directives, “I have met with about 15 banks this morning and we have given them a directive on how to get all the old N200 available effective today.”
President Buhari had, in his national broadcast on Thursday morning, directed the CBN to allow the old N200 note circulate till April 10, 2023, noting that the Naira swap policy has done much to limit the role of money in the current electioneering period.
