Scarcity of New Notes: Peter Obi Speaks on Naira Redesign, Sends Strong Message to Nigerians, CBN

• Labour Party flagbearer, Peter Obi has shared his opinion on the nation's currency redesign, the new naira notes
• The presidential hopeful in a tweet revealed the currency redesign is not peculiar to Nigeria
• Obi noted that it is an exercise that comes with inconvenience and pain but has a longterm economic and social benefits

The presidential candidate of the Labour Party, Peter Obi has revealed his position on the naira redesign.

While backing the move of the Central Bank of Nigeria (CBN), Obi in a tweet shared on his Twitter page on Sunday, February 5th, and sighted by Legit.ng, urged Nigerians to bear with the CBN.

The former governor of Anambra state noted that although the redesign of the naira notes comes with pain but it has significant long-term economic and social benefits.

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Obi tweeted:

"The currency redesign is not peculiar to Nigeria. It is an exercise that comes with some inconvenience and pain but it has significant longterm economic and social benefits. Even though there are improvements that can be made,

"I urge Nigerians to bear with the CBN and Federal Government with the hope that the general populace and Nigeria will harvest the gains that will come with the reforms."

Message to CBN

Obi further urged the CBN to make the new currency available to small depositors to reduce the pains of Nigerians.'

"We equally implore the CBN and the banks to expedite efforts to make the new currency available to small depositors and the unbanked in order to reduce the pains of my fellow Nigerians, especially the underprivileged and those living far away from banks in the rural areas - PO

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Deadline for old naira notes: How is it affecting you? Lagos traders voice out their frustration

Lagos traders expressed deep worry over the current hardship they are faced with in recent times.

According to businessmen and women, the Central Bank of Nigeria's (CBN)'s recent policy is affecting their businesses, especially the recent redesign of the nation's currency, the N200, N500 and the N1,000 notes.

This week, Legit.ng had a chat with some of the traders at Mile 12 international market, Lagos state and they expressed their opinion on the burning issue in the polity.

Source: Legit.ng