The Edo State Governor, Mr. Godwin Obaseki, on Wednesday said the proposed plan by the Central Bank of Nigeria (CBN) to redesign some naira denominations has no basis in Nigeria's economy. The CBN Governor, Godwin Emefele recently announced that the apex would redesign some selected naira notes and that the new denominations would be in circulation from December 15. The announcement of the policy has generated mixed reactions from Nigerians, most of whom criticised the move, arguing that it wil create more economic problems.
I’m An Economist; I Can Tell You Buhari Government’s Move To Redesign Naira Notes Is Purely Political, Lacks Basis –Edo Gov, ObasekiThe CBN Governor, Godwin Emefele recently announced that the apex would redesign some selected naira notes and that the new denominations would be in circulation from December 15.
The Edo State Governor, Mr. Godwin Obaseki, on Wednesday said the proposed plan by the Central Bank of Nigeria to redesign some naira denominations has no basis in Nigeria's economy.The CBN Governor, Godwin Emefele recently announced that the apex would redesign some selected naira notes and that the new denominations would be in circulation from December 15.
He alleged that the APC-led administration has stolen money and wants to use it to impose itself on Nigerians as the country prepares for the 2023 general elections. 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.
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