The Governor, the Central Bank of Nigeria, Godwin Emefiele, announced on Wednesday that the bank would release re-designed naira notes by December 15, 2022.
Economists are divided over the change of currency notes being planned by the apex bank.
“I also think it may have the effect of reducing speculative attacks on the naira in the parallel market. The Chief Executive Officer at Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, said it was difficult to see any compelling value proposition of the currency redesign idea. He further said there were more urgent issues demanding the attention of the CBN, particularly those around the foreign exchange.
The group, while reacting in a statement through its spokesman, Abdulsalam Kazeem, in Kaduna on Wednesday, expressed concern that the re-designing of the naira notes would not add value to the standard of living of Nigerians and as such, the exercise was unacceptable.