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Lagos Daily > News > Bear with the Government and CBN, says Peter Obi
News

Bear with the Government and CBN, says Peter Obi

Adekunle Owolabi
By Adekunle Owolabi Published February 5, 2023 1 Min Read
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Labour Party’s presidential candidate, Peter Obi, has encouraged Nigerians to be patient with the Federal Government and the Central Bank of Nigeria (CBN) regarding the redesigned naira banknotes.

There has been a shortage of N200, N500 and N1000 banknotes since their introduction by the CBN. In a Sunday tweet, Obi asked for patience and hoped the redesign would bring long-term benefits despite its temporary inconvenience.

He also called on the CBN and banks to quickly make the new currency accessible to small depositors and those in rural areas who are unbanked.

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,

— Peter Obi (@PeterObi) February 5, 2023
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