Monday, November 17, 2014

Is the Solution to the Nigerian Problem Printing of a New N100 Note???


100-naira
I don’t know how our government sets its priority, but seriously is it a new N100 note that we need now, at this very stage of our life as a country??? Well, the TRADE Union Congress of Nigeria, TUC, also shares my sentiment, and over the weekend, faulted the introduction of new N100 bank notes by the Central Bank of Nigeria, CBN, to commemorate Nigeria’s centenary celebration, saying it was ill-timed and wasteful.

President and Secretary General, Mr. Bobboi Kaigama and Musa Lawal respectively, TUC said in a statement:
“printing of new currency is usually a capital-intensive venture, and raises questions as to how the CBN hopes to grapple with the economic implications of redesigning and printing the new bank notes.
“Even the timing of the project is inappropriate, coming so late in the year when the economic hustle and bustle associated with Christmas and New Year are nigh.
“These, together with the heightened state of insecurity in parts of the country, the frenzy of political activities and electioneering campaigns towards the forthcoming 2015 elections, and the current slump in global oil prices make this the worst possible time for such drastic fiscal policy.”
What’s your take? Do you agree with a new note right now????

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