Why FG should allow old N1,000, N500 in circulation – Ex-finance minister

  • 📰 MobilePunch
  • ⏱ Reading Time:
  • 59 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 63%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

A former Minister of Finance, Dr Kalu Idika Kalu, shares with TUNDE AJAJA his thoughts on the naira scarcity, the way forward and what should be the priority of the next government

There are so many ways to solve the problem of counterfeiting. All countries are changing currencies to replace counterfeited notes and those that are destroyed. People need their money for many things and it is not for you to criticise or censor what they want to use it for. Nigerians are asking for their money so they can use it for what pleases them, you can’t restrict them to say if you have to spend your money, go and do mobile transfer. No.

The economy is bedevilled by challenges like high inflation rate and double multiple exchange rate, among other economic challenges. What are the pressing economic interventions that Nigeria’s next president must take to save the economy? We don’t have a dual exchange rate, we have multiple exchange rates. Dual is bad enough, but multiple is worse, not just in the private sector, but that is also what obtains in the public sector. You see all kinds of preferential rates. All these are sub-optimal decisions. Your question requires a very detailed answer. Talking about priorities for the new president, it is to calm people’s nerves in Nigeria.

What form do you think it should take, given that some have been held in the past with no significant change in the system? Nigerians can talk for six months and come up with a decision that maybe it’s not so much the structure that is wrong, but having the right leader. When the issue of this currency came up and some governors were talking and asking why APC governors were at the forefront of opposing the Federal Government, but the governors were saying we see that our people are suffering.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Lmao 🤣 🤣 🤣 🤣.... let me guess. Your still have old naira notes somewhere waiting to be deposited.

We have gone passed this

Who is this man again. Old news. Dead on arrival.

Sorry it is late

Oleeeeeee

Singapore Singapore Latest News, Singapore Singapore Headlines