Naira Redesign: Northern NGOs Support New Cash Policy, Seek Better Implementation

Non-Governmental Organizations, NGOs from 19 northern states and the Federal Capital Territory have declared support for the Central Bank of Nigeria’s (CBN) naira redesign policy but faulted the implementation of the policy.

The network of NGOs in the north made the declaration at a press conference in Kano during a meeting of the Conference of Northern States Civil Society Networks that took place on Friday.

The statement which was read by Amb Ibrahim Waiya, the president, Kano Civil Society Forum was signed by 19 representatives of the NGOs from the north and FCT.

The activists described the policy as a source of development for Nigerian economy, reduction of corrupt practices and a way of tackling the thriving insecurity in the country.

However, they described the strategy of implementation and approach as completely ineffective, and ill-timed, warning that it is threatening the conduct of a peaceful and credible 2023 general election.

“We are however of the opinion that the redesigned Naira notes and cashless policies are good initiatives that could help in development of the Nigerian economy, reduction of corruption practices and complement other efforts in tackling insecurity and as well facilitate a more global economic integration.

“However, the strategy for the implementation and approach are completely ineffective, defective and grossly ill-timed.

“We strongly support both policies but earnestly advise that a practical implementation              framework that will be inclusive should be put in place, especially to ensure that all critical stakeholders are involved and carried along” he stated.

The Northern NGOs also warned that the scarcity of new naira notes has not only crippled many businesses across the country, but has also given rise to insecurity, uncertainty and poverty.

Send Us A Press Statement Advertise With Us Contact Us

 And For More Nigerian News Visit GWG.NG