The Labour Party’s presidential candidate, Peter Obi, has urged Nigerians to bear with the Central Bank of Nigeria (CBN) amid the ongoing Naira note scarcity.

Taking to the microblogging platform, Twitter, Peter Obi stated that currency redesign always includes substantial systemic alterations, but the long-term advantages are well worth it.

He also asked the CBN and the Federal Government of Nigeria to make concerted efforts to alleviate the suffering of her citizens.

He tweeted;

“The currency redesign is not peculiar to Nigeria. It is an exercise that comes with some inconvenience and pain but it has significant long-term economic and social benefits. Even though there are improvements that can be made.
I urge Nigerians to bear with the CBN and Federal Government with the hope that the general populace and Nigeria will harvest the gains that will come with the reforms.
We equally implore the CBN and the banks to expedite efforts to make the new currency available to small depositors and the unbanked in order to reduce the pains of my fellow Nigerians, especially the underprivileged and those living far away from banks in the rural areas – PO.”

Police Operatives serving in Igbo-Eze South Division of Enugu State Command, have arrested two suspects for allegedly possessing suspected counterfeit one hundred and eighty (180) pieces of the newly redesigned one thousand naira (N1,000) notes.

On Thursday, February 2, officers arrested one Joseph Chinenye aged 39, and Onyeka Kenneth Ezeja aged 29, both male and respectively of Iheakpu-Awka in Igbo-Eze South LGA and Onicha Enugu-Ezike in Igbo-Eze North LGA for carrying counterfeit notes.

According to a statement issued by the state police command’s spokesperson, DSP Daniel Ndukwe, preliminary investigation shows that the notes, which are in three separate batches, bear the same serial numbers of A/34:282656, A/46:578759, and 8/93:852942; while the suspects claimed to have obtained the counterfeited Naira notes from an unidentified woman in Benin, Edo State.

“They confessed to attempting to sell the notes to a POS operator, who rejected them, before the Operatives arrested them at a Filling Station in Ibagwa-Aka community of Igbo-Eze LGA, where they used the notes to purchase petrol. The duo will be arraigned in court upon consolidation and conclusion of an investigation into the case by the State CID Enugu,” Ndukwe said

He stated that the state Commissioner of Police, CP Ahmed Ammani, has reaffirmed the Police’s determination to apprehend and prosecute criminal elements intent on committing such acts of economic sabotage.

As a result, he advised everyone to join the Police in their pursuit, while remaining watchful and aware of who or how they get and conduct transactions using Naira notes, particularly fresh ones.

President Muhammadu Buhari has assured Nigerians that he was aware of the scarcity of cash and was working on eradicating it.

In a post shared on his official Twitter account on February 3, President Buhari informed Nigerians that he met with some governors to look into the problem and promised significant improvements between now and February 10.

He wrote;

“I am aware of the cash shortages and hardship being faced by people and businesses, on account of the Naira redesign. I want to assure that we are doing everything to resolve these issues. Nigerians should expect significant improvements between now and the February 10 deadline.
I met with a delegation of Governors today, on the matter. All the complaints about the execution of the currency change are being seriously looked into. I will ensure that everything is resolved in a lasting manner, and we will all enjoy the long-term benefits of the decision.”