Peter Obi backs naira redesign, tells banks what to do

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Peter Obi

The presidential candidate of the Labour Party, Peter Obi, has thrown his weight behind the redesign of some naira notes but enjoins the banks to expedite action to reduce the pains and discomfort  depositors going through.

In statement on Sunday, Obi urged the banks to share in the pains of Nigerians, adding that “currency redesign is not peculiar to Nigeria. It is an exercise that comes with some inconveniences and pains but it has significant long term  economic and social benefits.”

Obi said, “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.”

He implored the Central Bank of Nigeria (CBN) and the commercial banks “to expedite efforts to make the new currency available to small depositors and those who have not banked their monies in order to reduce the pains of my fellow Nigerians, especially, the underprivileged and those living far away from banks in the rural areas”.

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