Currency Redesign Political -Obaseki

The executive governor of Edo state has said that the proposed redesigning of the country ‘s currencies by the Central Bank Of Nigeria (CBN) is politically motivated.

Obaseki made this statement on Wednesday in Benin City the Edo state capital at that inauguration of the PDP state women campaign council at the Presidential Campaign Secretariat.

According to him the move by the CBN to redesign the currency cannot impact positively on the country ‘s economy.

He said that the their is no urgency in redesigning the country ‘s currencies,adding that what the people needs urgently now is how to provide food and remove starvation from the land.

“The proposed redesigning of the Naira by the Central Bank of Nigeria (CBN) is political and would not positively impact on our economy.

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“I emphasised this while inaugurating the state’s Women Campaign Council of our great party, the Peoples Democratic Party (PDP) at the Presidential Campaign Secretariat in the state capital.

“As an economist, I can say categorically that this policy by the CBN and the Federal Government is merely political as there is no urgency in redesigning the naira. The urgency is on how to get food for our citizens and remove starvation and hunger from the land.

“The 2023 general election is for the continued existence of Nigeria. For our beloved country not to fail, we need to vote out the All Progressives Congress (APC) as a party.

“The PDP is organic and our presidential candidate, Alhaji Atiku Abubakar, is the best amongst all. We have the structure to win the election next year.

Recall that the Central Bank Of Nigeria had on October issued a notice that they will be redesigning some of the country’s currencies beginning from 15th December 2022 .

The currencies which are to be redesigned include,200,500 and 1,000 which is the highest denomination of the country’s currency.