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Tinubu writes Emefiele suggests solutions for CBN


With the 2023 general elections barely two weeks away, the Presidential Candidate of the All Progressives Congress, APC, Bola Ahmed Tinubu, has written an open letter on the current Naira Scarcity plaguing the Country.

Tinubu, in the letter, listed several ways the Apex bank could manage the crisis caused by the controversial Naira Redesign policy.

The full letter reads: “The past few weeks have been a challenging one for Nigerians, especially our SMEs, poor and vulnerable masses, and those whose very survival depends on daily cash transactions. They have felt the brunt of the combined problems of scarcity of fuel and new Naira notes.

“We feel the pains of our market women and artisans who have experienced low sales because customers do not have the cash to make purchases. We hear the loud cries of farmers in rural areas and hinterlands who have been forced to sell their produce at much lower prices so they don’t lose out completely. We hear every Nigerian dealing with the consequences of the roll-out of the cash swap program.

“While the scarcity arising from the supply limitations of the new naira notes is still with us, we are encouraged by reports that the fuel queues across the country are easing out as a result of better supply to fuel stations. We are now confronted with how to bring quick, sustainable solutions and relief to Nigerians on the challenges still posed by the nonavailability of new Naira notes so that social and economic activities can move on unimpeded and normalcy can immediately return to our financial services sector and overall productivity of our nation.”

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