Labour Party, SWAGA Back Council Of State Decision On Naira Redesign
The Labour Party (LP) and the South-West Agenda for Asiwaju (SWAGA’23) on Wednesday agreed with the position of the National Council of State that the Central Bank of Nigeria (CBN) should print more new Naira notes or recirculate the old ones.
Chief Spokesperson of the Labour Party Presidential Campaign Council (LP-PCC), Dr Yunusa Tanko in a chat with Daily Independent said the best way the Naira redesign policy can work is more new Naira notes are printed while the old notes are gradually withdrawn.
“It’s very obvious that they have to print new notes which will then take out the old notes because the new notes are already in circulation and cannot be withdrawn”.
“So they should print more gf the new notes and then gradually withdraw the old notes. That is the only way the Naira redesign policy can stand”.
On his part, Otunba Bosun Oladele, the National Secretary of SWAGA said the group is in support of the decision as long as it will ease the pain of the masses.
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He also said SWAGA’s position is that both the old and new notes should co-exist until the new naira notes are fully in circulation.
“Yes we are in support of the decision, as long as it will ameliorate the suffering of Nigerians and ease the accessibility to banking and commercial transactions in the country”.
” Our position has been that the Federal government should allow the old and the new currencies to co-exist through the transition period”.
