The political game had begun seriously and the players understand the pitch, their preferred formation and the game changer positioning. The coaches by the sideline stand in defaced tension as they solve the equation with normal formulas and every alternative methods they have got. What about the fans? Are they cheered rightly or merely aroused into “wide goose jeer of emotions”. Some fans are built on sentiments powered by constructive arguments, whereas some other folks show total lack of sense of patriotism in their stance.
I begun to look into the constructive and destructive results from polices. I have been brought up to speed in my understanding of the molding fingers of polices when well executed. Good polices save nations and returns the fading hope of the people. It wouldn’t come cheap! So don’t be quick to criticize, I know you are full of ideas. Now Check this out
How Nigerian Politics And Election Can Be Helped Via CBN’s plan to redesign Naira
As agued by the CBN Governor Emefiele, the policy would see to the recovery of bulk of the niara denominations (200, 500, 1000 notes) that are stored outside the bank vault. His statement implies that some folks have decided to empty bank vaults probably for VERY IMPORTANT BUSINESS THAT IS ONLY DONE WITH CASH.
Hear what Emefiele said about the project:
The action was taken in order to take control of the currency in circulation just as he posited that the bulk of the nation’s currency notes were outside bank vaults and that the CBN would not allow the situation to continue.
According to him, the planned policy he added , was in line with Sections 19, Subsections a and b of the CBN Act 2007, upon which the Management of the CBN sought and obtained the approval of President Muhammadu Buhari to redesign, produce, and circulate new series of banknotes at N200, N500, and N1,000 notes.
Recall that every time there is change of notes in Nigeria, it takes nothing less than 6 months before total circulation and balance would be restored. Alternatively, political games that trieve with physical cash may have been done a big blow, giving room for freer and fair election as people’s conscience would measured into monetary value.
Earlier yesterday, the finance minister had denied being aware of the economic consequences of the policy, and had indirectly pushed the questioning and probation to the senate. Her statement goes thus:
Distinguished senators , we were not consulted at the Ministry of Finance by CBN on the planned Naira redesigning and cannot comment on it as regards merits or otherwise.
“However as a Nigerian privileged to be at the top of Nigeria’s fiscal management , the policy as rolled out at this time , portends serious consequences on value of Naira to other foreign currencies.
“I will however appeal to this committee to invite the CBN governor for required explanations as regards merits of the planned policy and rightness or otherwise of its implementation now.
Have your say on this; DO YOU STAND WITH CBN ON THIS? USE THE COMMENT SECTION AND SHARE!