Concerned Northern Forum has called for the immediate suspension of the whole process of redesigning the nation’s currency.
In a statement by the Spokesman of the forum, Comrade Abdulsalam Mohammed Kazeem says the redesigning of the said currency will only cost the nation huge sums of money at the expense of tax payers.
According to the Statement, the step is coming at a period when the nation is borrowing to fund significant parts of its annual budget and another significant part to debt servicing
“The attention of the leadership of Concern Northern Forum has been called to a press conference organised by the current central bank governor in Abuja, where he stated that (CBN) has redesigned the #200, #500 and #1000 naira notes, effective December 15, 2022”
“This to us is nothing but a sign of incompetency, our economy as a nation is down and our Naira has depreciated to the minimal value and all the Leadership of Central Bank of Nigeria could offer us as a solution to the above is to redesign our currency”.
“We are concerned as representative of our people and region, if we may ask; will the new design make our currency to gain value at the exchange rate market? Will it add value to the standard of living of the citizenry of our region and the nation at large? This are some questions begging for immediate answers! If no satisfactory answers are provided (as we already expect none) for the above questions”
The Statement emphasis the need for the apex bank to immediately stop the process of the new design .
“To set the record straight, look at the current exchange rate of a Naira to a dollar or pounds and you will agree with us that our currency have lost its value completely and what we need now are serious economic policies that will strengthen our Naira against dollar and pounds and anything short of this, is unacceptable by us. Because we believe would inflict more against the value of our revered naira”
The statement alleged that, the decision to redesign the Naira is obviously to empower some certain individuals, consultant or contractors who are desperate to make something before the end of the current administration.
It calls for the rejection of the idea of redesigning the naira by Nigerians .
The statement maintains that, it will add no value to the current multiple economic challenges the nation is facing due to many challenges.
The forum also demanded for the immediate sack of the CBN Governor.
“And failure of our demands will Lead to massive protest across northern region and federal capital Territory”
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