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EDITORIAL: Redesigning The Naira

  COUNTERFEITERS, kidnappers, terrorists, and drug dealers must have been caught off guard by the announcement of the redesigning of the Naira by the Central Bank. This is good. It will of course come with a price tag but we must dig deeper. It is reemphasised by the statement of the Central Bank Governor that…”
Yusuf
October 28, 2022 2:21 pm

 

COUNTERFEITERS, kidnappers, terrorists, and drug dealers must have been caught off guard by the announcement of the redesigning of the Naira by the Central Bank. This is good.

It will of course come with a price tag but we must dig deeper. It is reemphasised by the statement of the Central Bank Governor that Nigeria is still unacceptably underbanked, this is unacceptable, and policies must be put in place to achieve financial inclusiveness. 

Good as the objectives stated by the Central Bank are, we must not take our eyes off the ball. The Naira like any currency is a store of value reflecting the productive base and the output of the economy.

The main policy thrust must be a Naira anchored on the defence of living standards and elevating towards “life more abundant”.

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