Naira redesign is political and the promoters are insincere – Wike

Governor Nyesom Wike has said that the Naira redesign by the Central Bank of Nigeria is politically motivated and that the stakeholders promoting it are insincere.


Wike said this while receiving a letter of nomination on the award of ?Independent Man of the Year 2022? conferred on him by the Independent Newspapers in Port Harcourt, Rivers state, on Tuesday, February 14. 


He stated that the ??shoddy implementation of the Naira swap by CBN has worsened the living conditions of the poor in Nigeria.”


The Governor said; 


?We are in a difficult situation now. It doesn?t matter what anybody may say. Nigerians are suffering now and as a people we owe that responsibility to cushion the hardship Nigerians are facing and not worsen the situation.


?Nobody says, and let it be on record that there is nothing wrong with redesigning our naira. What we are saying is the implementation will not help, rather it will aggravate the condition that people face, particularly the poor people.


?The whole thing is being political, and that is not what it is supposed to be. You have also not made the new one available and then you have said we can?t collect the old one again. Now, you that even have money in the bank, you?re not allowed to even collect your money.?


Wike also said that those advocating that Nigerians should embrace internet banking have failed to take into cognisance the fact that vast majority of the citizens, particularly in the rural areas, don?t have bank accounts.


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