President Muhammadu Buhari has been asked by the Spiritual Director of Catholic Adoration, Reverend Fr Ejike Mbaka to reverse the policy of the Central Bank of Nigeria (CBN).
According to Mbaka, the naira redesign policy is collapsing the economy.
Mbaka while speaking at the Adoration ground on Sunday wondered why President Buhari has failed to direct CBN to halt the policy……CONTINUE READING
He said, “The President should leave the office with a good name. How can countrymen and women be crying as they are going out? If anybody advised you over such a dirty, rubbish, wicked and barbaric policy, why can’t you say I am the president and reverse it? What I want to say is that it is not good, the CBN Monetary Policy.
“Banks are closing, businesses are collapsing, industries are collapsing, do you want to kill Nigeria before you leave? If you want to make a cashless economy it will not be an instant order, it is not a military coup d’etat. It is supposed to be gradual by gradual.”
He noted that when a government wants to introduce a new policy, it is expected of such government to give incentives to the people first, for them to embrace it.
Mbaka further stated that Nigerian banks are not technically ready for a cashless economy, he said, “sometimes when you make a transfer your account will be debited without being credited and when you complain, they will ask you to go to the bank. When you get to the bank, they will ask you to write a letter and come back after three weeks.”