Naira Scarcity: Obi Urges Nigerians To Bear With Buhari, CBN

The presidential candidate of the Labour Party (LP), Peter Obi, has urged Nigerians to bear with the Federal Government and Central Bank of Nigeria over the hardship caused by the introduction of new naira notes.

The LP candidate in a series of posts published on his verified Twitter handle on Sunday said the currency design has significant long-term economic and social benefits.

Obi noted that currency design is not peculiar to Nigeria while urging the CBN and banks to expedite efforts at making the new notes available to small depositors and the unbanked, especially those living in rural areas.

The former Anambra State governor added that Nigerians will harvest gains that will come with the reforms being introduced by the apex bank. 

The tweet read, “the currency redesign is not peculiar to Nigeria. It is an exercise that comes with some inconvenience and pain but it has significant long-term 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.

“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 area,” he added.