The Leadership of the National Assembly says there is need to have another look at the policy on the redesign of Nigeria’s currency and allow the old and new naira notes to co-exist.
President of the Senate Ahmed Lawan made this position known in an interview with Voice of Nigeria soon after he met with President Muhammadu Buhari along with the Speaker, House of Representative, Femi Gbajabiamila at the Presidential Villa, Abuja on Friday.
He said doing so will reduce the hardship currently being faced by citizens in accessing the new currency notes.
“For us in the Senate, initially we felt that this policy is not a bad policy but we are also feeling that there is no need for any time limit; allow the old and the new to co-exist until the old is phased out.
“This is not going to be the first country to do it that way. Other countries have been doing it that way. To say that in three months it will be okay, it is not okay. Especially in a country like ours where 80-90 percent of the population have no access to banks,” Lawan said.
The Senate President emphasized that now is the time to take a decision on the matter and have a second look at its mode of implementation.
“We had a private audience with the President after the Council of State meeting where we informed him in detail the resolutions of the two chambers of the National Assembly with respect to the redesign of our currency and the crisis of exchange or swap of the old currency with the new one.
“It is a known fact to everyone how life has been so difficult for the majority of Nigerians especially the most ordinary Nigerians across the country and we felt that this is the time to take a decision that will ease the problems Nigerians are facing with respect to this,” he said.
Ahmed Lawan said they advised that any policy that will be introduced must have a human component that will make it friendly to the livelihood of the people.
PIAK
