Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), appealed to lawmakers and Nigerians on Tuesday to show understanding, emphasizing that the apex bank was out to combat the frequency of insecurity in Nigeria.
Emefiele also claimed that the number of kidnappings and bandits had decreased since the Naira’s makeover.
He mentioned this during a call to the House of Representatives’ fact-finding ad hoc committee on the scarcity and deadline for obsolete Naira notes in Abuja.
Emefiele encouraged people affected by the policy to bear with the central bank, while also encouraging Nigerians to follow all directives.
“At this early stage, there will be bumps, but the goal is to make the Nigerian economy better and stronger,” he said.
“The redesigned naira notes and CBN’s cashless policy has calmed inflation in the country and restricted the operations of kidnappers and robbers.
“Inflation is easing, the exchange rate is stable, and we expect the naira to strengthen.”
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