Naira scarcity: Emefiele appeals for patience amid widespread protests

Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has appealed to Nigerians to support the bank’s naira redesign policy, amid protests over naira scarcity caused by the policy.

The CBN governor said this on Thursday during a chat with Channels Television.

“We are all servants serving Nigeria. As I’m concerned, the Honourable Attorney General of the Federation (Malami) has spoken on this matter (cash crunch) and the president (Muhammadu Buhari) sealed the whole of the issues this morning (Thursday) in his broadcast,” he said.

“I can only appeal to Nigerians. Let’s allow this policy to work. This policy is one that goes to solve the problem of corruption and illicit financial flow. The policy goes to solve some of the problems in the economy. This policy also goes to reduce insecurity in the country.

“These three issues (aforementioned) which are the tripod of this administration’s policy are all embedded in this policy. So, we should just allow it to work.

“There are some temporary pains but I can assure Nigerians that the long-term benefit is overwhelming and we should just give it a chance to work.”

On President Buhari’s directive, he said he has met with some commercial banks to make the old ₦200 notes available for Nigerians.

“Temporary pains are regrettable but I can assure Nigerians that it will be well,” he said