The Central Bank of Nigeria's (CBN) abrupt decision to redesign some naira notes has alarmed actress Kate Henshaw.
President Muhammadu Buhari has authorised the redesign, production, and circulation of new N200, N500, and N1,000 notes, according to CBN Governor Godwin Emefiele. He also instructed Deposit Money Banks (DMBs) holding the existing denominations of currency to "begin returning these notes back to the CBN effective immediately."
Actress Kate Henshaw, a fitness devotee, responded by denouncing this development and pointing out that there are urgent problems that the nation has to solve right away.
She said: “Nigeria to redesign in the midst of all that is going on, in the thick of elections, floods, insecurity etc. It is redesigning of the Naira and giving up just weeks for this to happen!! The Nigeria I know, some traders will soon stop receiving the current currency”
Barring the short time frame given, kate expressed empathy for residents in rural communities, she added: The queues will be a nightmare!! Quote me…What of those in the rural areas who handle mostly cash & have to travel miles to the nearest bank?
Why not phase it out gradually? I don’t get it!!