CBN should come out clean


 I cannot believe that the Central Bank of Nigeria that is supposed to be backing it's cashless policy is digging

the grave of the Naira by planning to introduce higher denominations of Naira.

What a way to fight inflation!

Nigeria is God's project and the Nigerian will continue to defy all odds.

No matter what you say of Nigerians, go to CMS, Lagos by 6am and the number of people running about to meet up tight schedules will confirm the resilience of the average Nigerian.

Import dependent as we are the Central Bank of Nigeria is busy backing the Dollar against the Naira and redenominating the Naira in the guise of redesign.

May God forgive all those behind this hideous and odious act.

That prices are daily rising cuts no ice with the Central Bank of Nigeria. Rather they are in sync with our enemies who wrongly believe that the Naira is over valued.

Our Major export is sold not in local currency but foreign currency, so what do we gain from devaluing our currency?

Our footballers and doctors would end up being underpriced.

Our import substitution industries would end up closing down due to unsustainably high cost of imported raw materials further accentuating unemployment and insecurity.

I hope the Central Bank of Nigeria would stick to N1000 as the highest denomination of the Naira as higher denominations negate the idea of a cashless policy but rather make it easier to carry large volumes of cash.

Let us believe that wise counsel would prevail.

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