Emefiele to Nigerians: Allow naira redesign policy to work

 

–Meets with bank executives, directs them to make old N200 note available

By Johnbosco Agbakwuru, Abuja

Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, on Thursday, appealed to Nigerians to allow the Naira redesign policy of government to work.

Speaking with State House correspondents after meeting with President Muhammadu Buhari and the House of Representatives Special Ad-Committee on Naira Redesign, Cashless Policy and Currency Swap at the Presidential Villa, Abuja, the CBN Governor said allowing the currency swap to work will go a long way to help the nation’s economy.

Emefiele also stated that he has met with 15 bank executives and directed them to make the N200 notes available immediately.

He said, “The truth is that we are all servants. We are serving Nigerians. As far as we are concerned the Attorney General has spoken on this matter and the President has sealed the whole issue this morning in his broadcast.

“I think I can only just appeal to Nigerians, let’s allow this policy to work. This policy is one policy that goes to reduce the problem of corruption and illicit financial flaws.

“This policy goes to resolve some of the problems in the economy, this policy also goes to reducing the level of insecurity in the country. So these three issues which are the tripod of this administration’s policy are all embedded in this policy. We should just allow it to work.

“We keep saying this, there are some temporary pains, but I can assure Nigerians that the long-run benefit to Nigeria is overwhelming and we should just give it a chance to work.”

On what Nigerians should expect from the CBN following the directive of Mr. President, Emefiele said that the President has given his directives.

“I have met with about fifteen banks this morning and we have given them directive on go to get all the old N200 available effective today. And I can assure Nigerians this will help reduce the pain. We meet with the bankers at least once daily to get feedback and the rest of them and I think we should just allow this to work, the temporary pains are regrettable but I can assure Nigerians that it will be well.”