Peter Obi, the presidential candidate for the Labour Party (LP), has provided his thoughts on the Central Bank of Nigeria’s currency re-design program (CBN). In a statement he personally signed on Sunday, Obi stated that such policies would always be accompanied by some difficulties and suffering, adding that this is not unique to Nigeria.
The former governor of Anambra State asked Nigerians to be patient with the CBN and the federal government while concentrating on the long-term advantages of the program, while acknowledging that the implementation of the policy might be improved.
In order to ameliorate the suffering being experienced by the populace, particularly the rural residents, Obi also instructed the CBN and the commercial banks to step up their efforts to make the replacement notes available to Nigerians.
According to him: “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.”
He continue to say that: “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 areas.”
Peter Gregory, a politician and businessman from Nigeria born on July 19, 1961, presided over Anambra from March to November 2006, February to May 2007, and June 2007 to March 2014. After leaving the People’s Democratic Party in May 2022, he was nominated by the Labour Party to be Nigeria’s president in the 2023 election.
Obi received his degree from the University of Nigeria in 1984 and was born in Onitsha in 1961. After that, he started working in the financial industry and eventually held many executive positions there. As a candidate for governor in the All Progressives Grand Alliance in 2003, Chris Ngige was declared the victor.
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