By-Taiwo Amodu, Abuja
Presidential candidate of the All Progressives Congress, Senator Bola Ahmed Tinubu, has advised the Central Bank of Nigeria, to submit itself to the position of the National Council of State asking the apex bank to allow the old and New Naira notes to remain as legal tender, simultaneously for some time.
The Council took its position at the end of its meeting held last Friday at the Presidential Villa.
Tinubu in a statement issued at the weekend which he personally signed, entitled, “Let us Make the Best of this Moment asked the CBN to give the new policy a year life span.
“Following the advice of the Council of States, the CBN should announce that the old and new Naira notes (especially the non-withdrawn notes and coins) will co-exist as legal tender for the next 12 months to follow examples of countries that have successfully implemented similar monetary policy. This will immediately remove growing tension in the country, eliminate panic reactions by the populace and allow time to scale up infrastructural gaps around alternative payment options to cash.”
To cushion the drain on the limited resources of the average Nigerian, the APC standard bearer equally suggested “the immediate suspension of associated charges on online transactions and bank transfers and payments via POS until the current crisis is fully resolved. This cost should be considered a roll-out expense by the CBN to incentivise the envisaged shift to alternative transaction channels; for both the financial services consuming public and those in charge of implementing the scale-up programme. “
“Mobilise all Money Deposit Banks, Payment platforms to show clear commitment and timelines on expanding their infrastructure and support services. “
Among other interim measures to mitigate the sufferings of Nigerians, Tinubu asked “the Central Bank and other relevant MDA’s to form an Inter-Agency Action Committee for immediate oversight over the cash supply gaps from the Nigerian Security and Minting Company and deal with issues around capabilities and turn around time to meet the needs of the informal sector and unbanked people.”
The APC presidential candidate further clarified that himself and his running mate, Senator Kashim Shettima have no personal score to settle with the Governor of the CBN, Godwin Emefiele but only concerned about the plights of Nigerians at the receiving end of the Naira swap policy and what he called ” its disruptive implementation and the hardship it has brought on the generality of our people who currently can’t access their hard-earned money to meet obligations and the attendant consequences on the informal sector, where majority operate.”
Tinubu maintained that leaders at all times must crave for the welfare and comfort of the people.
“As leaders, our commitment to our country everyday must be on how to make life better for our people and we are called upon not to waste the opportunity the moment presents to us to ramp up capacity and capability to serve 200 million Nigerians, leaving no one behind and ultimately improve the living conditions of every single Nigerian. Our task now is to restore hope in the country by implementing these steps to energise our people that we can do big things for a better future and shared prosperity. We can build upon this citizen-focused policy challenge to offer a template on how governance should work for the people.
“God bless you and God bless Nigeria. We are overcomers. “
