Redesigned Naira Notes: Association tasks CBN on widespread circulation
The Kwara Coalition of Business and Professional Association (KWACOBPA) has called on the Central Bank of Nigeria (CBN) to redouble its efforts in ensuring widespread circulation of the redesigned Naira notes.
The Chairman of KWACOBPA, Alhaji Olalekan Ayodimeji, made the appeal on Thursday at a news conference held at Pharmacy House in Ilorin.
He said KWACOBPA shared the pains of Nigerians whose means of livelihoods have been disrupted by their inability to access the redesigned Naira notes as a result of CBN new currency policy.
Ayodimeji said the reasons adduced by the CBN for the Naira redesign are understandable, but implementing same alongside the cashless policy is worrisome.
“Businesses today in Nigeria are endangered. Micro and small enterprises are struggling to get the local currency for their business operations.
“We call on CBN to pump out the redesigned Naira notes to ameliorate this unpleasant situation in the country.
“It is getting tougher everyday for the poor masses. Kindly help circulate the new Naira notes to rescue the situation.
“We appeal to the Federal Government to allow the old and new notes to run side by side until when the old is completely withdrawn,” he advised.
The association also called on the federal government to ensure immediate removal of fuel subsidy as it was long overdue.
The chairman added that subsidy has been abused by corrupt minded individuals and no longer serving the purpose for which it was intended.
“The complete deregulation of the downstream sector of the petroleum industry should be total by the removal of the subsidy on fuel. The nation will adjust to whatever price regime the removal will throw up.
“We believe the humongous amount being used to fund the subsidy could be channelled to provide infrastructure needs,” he said.
The association therefore appealed to Nigerians and business communities to remain calm and be resilient in the face of the currency swap and forex crises
