Business
PRESIDENT Muhammadu Buhari, Saturday, assured that government would ensure that citizens were unharmed in their businesses and no disruption is caused to the entire supply chain arising from the currency swap due to end shortly.
Reacting to reports of long queues of people waiting for hours for their turn to deposit old notes and get new ones, triggering public anger and opposition’s criticism, Buhari reiterated that the currency changes were aimed at people hoarding illicit funds and not the common man, and that it had become necessary to prevent counterfeits, corruption, and terrorist funding.
That, he assured, would stabilize and strengthen the economy.
While taking note that the poorest section of society was facing hardship as they often kept hard cash at home for various expenses, President Buhari gave strong assurances that the government would not leave them to their own fate.
He reiterated that a number of initiatives by the Central Bank and all commercial banks were underway to speed up distribution of the new notes and do all that was necessary to forestall cash squeeze and chaos. – (Text excluding headline from Fronpageng)
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Tags: President Muhammadu Buhari
