Naira redesign: Kidnappers will demand ransom in dollars, says Gumi

Kidnappers will demand ransom in dollars, says Gumi - nigerian newspapers on the internet

Ahmad Gumi, an Islamic pastor, says the naira upgrade strategy by the National Bank of Nigeria (CBN) will make hijackers resort to dollars for emancipate.

On October 26, the CBN reported that it has updated some new naira notes.

The pinnacle bank said the new notes incorporate N200, N500 and N1000, adding that the new plan and issues will be compelling from mid-December 2022.

Responding to this turn of events, Gumi said the strategy is coming at some unacceptable time and will project monetary hardships on the residents.

“Concerning the subject of keeping criminals from the naira, it’s implied that they will turn to dollars and other hard monetary standards which will additionally come down on it exacerbating the spoiled circumstance,” he said.

“This is no time for monetary kamikaze! Individuals that sell products will let you know that most Nigerians don’t have the means to purchase things; hence most dealers are running confused and are now collapsing up. At this intersection, whatever can cause a money crunch will be a calamity for the country.

“Numerous smart thoughts are damaged by off-base timing. This is probably going to be another. Regardless of how clever the hatchers might romanticize; the advantage will stay apparition since the truth on the ground is disjointed and it means catastrophe for the caper.

“This sort of program isn’t for an administration that is in the pains of its destruction. Assuming there is any benefit of such experiences, it for the most part comes after numerous long periods of horrifying neediness and difficulty which no benevolent government ought to surrender such remorselessness to any approaching government to make due.”

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