•Appeals  to banks to reduce Nigerians pains

From Adanna Nnaamni, Abuja 

The Presidential Candidate of the Labour Party (LP), Mr Peter Obi, has thrown his weight behind the currency redesign but wants banks to expedite action to reduce the pains and discomforts small depositors and the unbanked are going through.

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Reacting to the Naira situation in a statement on at the weekend, Obi said: “the currency redesign is not peculiar to Nigeria. It is an exercise that comes with some inconveniences and pains but it has significant long term  economic and social benefits.”

“Even though there are improvements that can be made, 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 comes with the reforms.

He implored  the Central Bank of Nigeria, 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.”