New Naira notes: Expert don weigh options ahead of Buhari 7-day plan
On Friday, President Muhammadu Buhari yarn say hin go make “major decision” on di scarcity of Naira notes for Nigeria. Hin first decision na to approve di extension of di initial January 31 deadline for swapping of old notes for New Naira notes by 10 days, Buhari promise Nigerians say di remaining seven days of di 10-day extension na hin dem go use crack down anything wey dey limit dem from di successful implementation of di currency redesign policy.
According to Buhari, hin go revert to di Central Bank of Nigeria (CBN) and di Minting Company.
Amara Nwankpa, di Director of, Public Policy Initiative for di Yar’Adua Foundation bin follow share tip on wetin Buhari fit do.
He yarn say dem need to make sure say plenty of Naira supply dey available. Infact, over-supply of di Naira dey necessary. E need to match di demand for physical cash across boards – ATMs, over-the-counter, etc.
“Nwankpa yarn say If e no fit match, then di problem go dey worse everyday. And those pipo wey go dey affected na di underserved customers and pipo wey dey on di wrong end of di spectrum. Di poorest people and di women.
FOR MORE NEWS: Naira Redesign: Ganduje don expose Emefiele alleged plan to APC chances for elections
“Either dem match di demand for di new Naira notes or dem push back di old notes and suspend di policy for now, or make Buhari allow make pipo dey use old notes and news notes together,” Na wetin hin tok be that.
Buhari vow come following di meeting with governors of di All Progressives Congress (APC).
Another question wey dem ask Nwankpa be say weda all these things fit get political undertones, hin tok say hin no know.And he no wan speculate. Even though e happen for di political season and everybody know how cash dey important this season, the Central Bank and authorities don yarn say dem dey pursuit of di cashless policy.
However, e top politicians from using cash buy voters and dia supporters.
“So even if di purposeno dey political, e go still affect politician”
Also, hin tok say hin biggest concern go be how e whole policy dey affect di economy at large. And as everybody know, Nigeria get huge population of pipo wey no get bank account. N a cash majority pipo dey use run transactions.
You fit go read more of the full tori…READ MORE
