Centre urges Nigerians to accept CBN’s monetary policy in good faith

Nigerians have been urged to see the Central Bank of Nigeria (CBN)’s new monetary policy from a positive side and accept it in good faith.

The Youth Advocacy for Peace and Social Justices Centre for Sustainable Development (YAPASJCSD), an NGO, gave the advice in a statement on Monday in Kaduna.

National President of the centre, Mr Emmanuel Yatai, expressed optimism that the new policy would set the country on the path of sustainable development.

Yatai described the CBN monetary policies as “timely” as the measures would curb financial related crimes, address artificial scarcity of Nigeria’s currency, ensure adequate circulation, and stimulate economic growth.

According to him, the development will lead to increased demand for the naira, which will increase its value, particularly with the ongoing campaigns towards the 2023 General Elections.

“This is the time that money will be needed to print materials for campaigns, such as face caps, T-Shirts, and also other logistics such as transportation for campaigns.

“With the high exchange rate of naira against the U.S. dollar, no politician will afford to continue spending in dollars.

“Therefore, directly, or indirectly the naira will appreciate against the U.S. dollar in the next 90 days because it will be highly sought for everywhere by politicians, businessmen and women.

“This measure will make things easier for the incoming government and strengthen the nation’s cashless economy. Please let’s support the new financial policy.

Yatai also advised politicians to concentrate on issue-based campaigns, and urged them to shun the old-fashioned campaign of calumny and blackmail that had yielded nothing good.

“Nigerians have suffered enough, what we need now is good leadership devoid of religion, ethnicity, and self-centeredness, to bring the country out of the woods.

“We need a leader that will unify the country, provide security, and job opportunities to the teaming unemployed youths and strengthen the nation’s economy.

“The 2023 General Elections present another opportunity for Nigerians to make hard choices, choices that will either move the country forward or backward.

“The choice is ours; it is left for us to to make wise decisions,” he said.