Naira Redesign: Diaspora Nigerian Decries Poor Policy Implementation
A Nigerian finance and security expert in Diaspora, John Akinmurele says the Federal Government Naira redesign policy is good, except the time of its implementation.
Akinmurele said this on Sunday while speaking with the News Agency of Nigeria on the hardship being faced by Nigerians over the policy implementation.
The expert who is based in Canada, said the feedback Diasporan Nigerians were getting over the policy implementation was worrisome and call for concerns.
He expressed disapproval of the unprecedented queuing Nigerians had been subjected to as well as violent protests inside banking halls and in some cities.
“Mr Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN) claimed that the naira redesign is to help security agencies fight banditry and insurgency.
“He said that the policy will help the country move toward cashless policy, reduce inflation, eliminate corruption and reduce poverty.
“These points ordinarily ought to justify a need for currency redesign.
“However, the much that Nigerians have witnessed so far in the implementation, had clearly shown that it is either the policy was not well thought out or deliberately circumvent for whatsoever ulterior motive,” he said.
According to Akinmurele, currency redesigns, as it is done in other climes, should be seamless, economically enhancing and associated with ecstasy and national pride.
“Currency redesign is not a strange practice in almost every country of the world including the developed ones where it is a periodic exercise.
“For instance, the ascension of King Charles III as the Monarch of England may cause currency redesign in some Commonwealth countries.
“It is, therefore, expected that Naira redesign policy should be a well thought-out exercise having in mind that the informal sector in Nigeria is significant.
*It ought to have been a well advocated and simplified exercise so as to be cleared of all manners of ambiguity, misinterpretation and political colouration,” he said
Akinmurele appealed to the government to rejig the implementation of the policy to make it easy for people to access their money while calling for calm among the citizens.
