Millions of residents in Nigeria are still scrambling to get their hands on the redesigned naira notes of ₦200, ₦500, and ₦1,000 denominations. The cash swap is forcing them to come to the reality of a cashless society.
Femi Adesina is the Special Adviser to President Muhammadu Buhari on Media and Publicity and he has something interesting to say about the cash swap.
Cash Is Coming
On Friday, he said the cash swap initiative of the Central Bank of Nigeria (CBN) is “a policy that was bound to do our country good”.
Writing in his weekly column, Adesina said: “Cash is coming, more than we need, and our national economy, the political process, and our lives generally, shall be the better for it.
“Just a little while, and the halcyon days will come.
“But for now, no pain, no gain. We will surely get there”.
Adesina believes the policy is a right move in the right direction that only needs Nigerians to exercise some patience.
People Also Read:Â Cash Crunch: How To Survive In This New Naira Scarcity Era
Furthermore, he opines that more cash is coming to better the lot of Nigeria’s economy.
Unfortunately, this maybe beyond comprehension for the common man who has not been able to lay his hands on either the old or new naira notes.
Meanwhile, the reality on the ground is that the situation has been especially challenging for some 40% Nigerians in rural areas who have little access to banking services.
Yet, the CBN has continued to cry fowl, blaming the scarcity of the new naira notes on sabotage by commercial banks and has been cracking down on institutions that are not compliant.
Meanwhile, most Nigerians think that the cash swap policy may just have been a beautiful policy implemented at a wrong time with a motive that is not people-centric.
