Naira scarcity: Finally, Peter Obi wades in, tell Nigerians what to do

Naira scarcity: Finally, Peter Obi wades in, tell Nigerians what to do

  • Amid the ongoing hassle for the newly designed naira notes nationwide, Nigerians have been urged to keep calm
  • Presidential hopeful, Peter Obi made this call on his social media page urging Nigerians to be patient with the Central Bank of Nigeria (CBN)
  • In his message to Nigerians, he also urged that the CBN take contingency steps to ensure the adequate distribution of the naira

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The presidential candidate of the Labour Party, Mr Peter Obi has urged Nigerians to bear with the Central Bank of Nigeria (CBN) pending when the apex bank will find a solution to the scarcity of the new Naira notes.

The former Anambra state governor made this appeal on Sunday, February 5 in a statement sighted by on his official Twitter handle.

Peter Obi, CBN, Naira Scarcity
Peter Obi has been tipped by many political pundits as the favourite to win the presidential polls on Saturday, February 25. Photo: Peter Obi
Source: Facebook

As contained in the tweet, Peter Obi said that even though there are improvements that can be made, the currency redesign is an exercise that comes with some inconvenience and pain but it has significant long-term economic and social benefits.

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His tweet reads:

"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."

Peter Obi's appeal to CBN

Obi further appealed to CBN to help ease the pain of the masses and make the new naira notes available to stabilise the economy as well as the exchange of commodities for the day-to-day activities of Nigerians.

He said:

"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."

New naira notes: CBN to sanction Nigerian bank for mismanaging N4 million

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Scarcity of new notes: Peter Obi speaks on naira redesign, sends strong message to Nigerians, CBN

In another development, the Central Bank of Nigeria (CBN) has disclosed that a commercial bank in Ogun State mismanaged N4 million of the new notes.

The apex bank says such acts sabotage efforts to make sure the new naira notes are available for all.

The CBN says it will appropriately sanction erring banks that are involved in such criminality.


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