Naira Redesign: CNPP Declares New Banknotes Legacy Achievement - Mc Ebisco
Politics

Naira Redesign: CNPP Declares New Banknotes Legacy Achievement

Conference Of Nigeria Political Parties (CNPP) has commended the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele and the President Muhammadu Buhari administration on the successful unveiling of the redesigned naira notes, saying the redesign of the naira will remain a legacy achievement of the administration.

This was contained in a statement issued yesterday by the CNPP secretary-general, Chief Willy Ezugwu. According to the umbrella body of all registered political parties and political associations in Nigeria, “President Buhari administration has, by this singular action, demonstrated a strong will not only to manage Nigeria’s ailing economy but also towards a free, fair and credible general elections in 2023.”

It said with the launch of the new Naira notes, if followed by strict implementation of the outlined monetary strategies for a full cashless economy, Nigerian democracy will be better for it.

“President Buhari rightly noted the ‘urgent need to take control of the volume of currency in circulation and to address the hoarding of Naira banknotes outside the banking system, the shortage of clean and fit banknotes in circulation, and the increase in counterfeiting of high-denomination Naira banknotes’.