Rivers State Governor, Nyesom Wike has said the shoddy implementation of the naira swap policy by the Central Bank of Nigeria (CBN) is political and has worsen the living condition of the poor in society.
Wike stressed that the essence of government and its agency such as CBN, is not to inflict hardship on the masses, but to cushion it.
He made this remarks during the official presentation of letter of nomination on the “award of Independent Man of the Year 2022,” on him by the management of Independent Newspapers, at the Government House, Port Harcourt, on Tuesday.
The Rivers State governor informed that Nigerians are suffering as a result of the tactless implementation of the naira swap policy, and urged government to urgently ameliorate the condition of the people.
“We are in a difficult situation now. It doesn’t matter what anybody may say. The truth must be told at all times. Nigerians are suffering now and as a people we owe that responsibility to cushion the level of hardship that Nigerians are facing, we are not to worsen the situation.”
Wike said people are not necessarily opposed to the redesign of the N1000, N500 and N200 notes, but they are concerned about the implementation of the policy and the hardship it has inflicted on the masses.
“Nobody says, and let it be on record that there is nothing wrong with redesigning our naira. What we are saying is the implementation will not help, rather it will aggravate the condition that people face, particularly the poor people.”
He said those who insist that the naira swap policy would curb corruption and eliminate vote buying during the general election were not sincere.
According to him, “the whole thing is being political, and that is not what it is supposed to be.”
Wike said it is regrettable the CBN has failed to emulate the global best practice in its implementation of the naira swap policy.
He stressed that ideally the CBN should have allowed the old notes to be in circulation alongside the new notes for at least one year before it is completely phased out.
“You have also not made the new one available and then you have said we can’t collect the old one again. Now, you that even have money in the bank, you’re not allowed to even collect your money.”
The governor observed that those who are advocating that Nigerians should embrace internet banking have failed to take into cognizance the fact that vast majority of the citizens, particularly in the rural areas don’t have bank accounts.
Governor Wike charged the media not to be indifferent to the prevailing situation in the country because it has a vital role to play in the people’s quest for actualisation of a just and equitable nation.
Earlier, the Managing Director and Editor-in-Chief of Independent Newspapers, Steve Omanufeme, said governor Wike, was nominated for the award for his dogged fight for justice, equity and fairness.
