The Central Bank of Nigeria’s (CBN) naira redesign policy offers advantages despite its drawbacks, according to Minister of Labor and Employment Chris Ngige.
The Minister claimed that the aforementioned strategy gave Nigerians sound benefits on Wednesday during his participation on Channels Television’s Politics Today program.
However, Ngige acknowledged that the policy brought pain to Nigerians because the implementation process was not smooth enough.
His words: “The policy is not smooth in its implementation. I admitted that. But whether it is a good policy? Yes, it is a good policy.
It wasn’t smooth; it came with some pain but overall, did we get some sound benefits from it? Yes, we did: people didn’t buy votes on the line (queue) during the elections.
“I used to go for elections and I know what I see. There was no cash exchange for votes. It wasn’t easy anymore. Kidnappers are on break, they are on strike so to say or recess. Bandits, they have also gone on holidays.”
Meanwhile, the minister while speaking on the issue of the shelved strike by the Nigeria Labour Congress (NLC) said the apex bank has released cash into the society and assured Nigerians the pain over naira scarcity will ease off in the days to come.