Naira
Naira crisis shouldn’t have reached unbearable height before FG’s intervention – Expert
A financial inclusion/wealth management expert, CEO of SD&D Capital Management Limited, Mr Idakolo Gabriel Gbolade, said the Naira crisis should not have reached this unbearable height.
Idakolo spoke on Monday against the backdrop of the Central Bank of Nigeria’s approval validating the use of old N200, N500, and N1000 notes.
He said it is unthinkable for a democratically-elected government to watch its citizens suffer for months.
According to him, a sensitive government would not allow its citizens to go through hardship without swift intervention.
He explained that the scar of the crisis would be in Nigeria’s economy for a long time.
“The state of the economy is worsening and is compounded by the delayed intervention towards implementing the Supreme Court’s ruling. The scarcity of new Naira notes won’t have reached an unbearable height before the central bank of Nigeria, President Buhari’s response”, he stated.
The CBN finally approved the acceptance of old N500 and N1000 notes as legal tender till December 31 in obedience to the Supreme Court’s March 3 ruling.
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