Former World Bank vice president Oby Ezekwesili has claimed that Nigerian banks are not yet prepared for the CBN's cashless strategy.
The mechanisms of banks, according to her, were not designed to manage transactions without currency.
On a political programme on Channels Television on Sunday night, Ezewesili, a former minister of education, discussed her thoughts on the CBN's proposal to modify the naira.
She claimed that the policy had complicated matters for certain customers and caused bank system failures.
Ezekwesili said, “We are using the CBN to solve a problem with political criminals.” She also noted that the federal government could easily catch criminals without using the CBN.
“I don’t even know if there are economists left at the CBN. Our central bank is compromised,” she said.
The former minister was sad that the people were suffering because of criminals in politics. He said, “The poor, not politicians, are the victims of the naira swap.”
She was generally positive about the policy but had some concerns about how it was being carried out.
“They have burgled the operational plan of the policy,” she lamented.
She told Nigerians that they should vote wisely in the upcoming elections.
“If you want to design a new Nigeria, use your PVC. Your PVC is the greatest weapon at your disposal,” she urged.