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The #Naira Was Not Redesigned For Beauty But For Economic And Security Reasons – Reno Omokri

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The #Naira Was Not Redesigned For Beauty But For Economic And Security Reasons - Reno Omokri

The #Naira Was Not Redesigned For Beauty But For Economic And Security Reasons – Reno Omokri—–A socio-political activist and Former President Goodluck Jonathan’s aide, Reno Omokri has schooled some Nigerians over their myopic mindset towards the redesigned Naira Notes.

The Genius Media Nigeria reports that he made this known via his official twitter page.

Recall, Buhari had unveiled the redesigned N200, N500 and N1000 notes at the commencement of the weekly meeting of the Federal Executive Council (FEC).

The CBN Governor, Mr Godwin Emefiele had on Tuesday said that the president will unveil the newly designed N1,000, N500 and N200 notes.

The unveiling marks the first time in 19 years, Nigeria will be redesigning it’s currency notes.

At a briefing after the ceremony before the Federal Executive Council meeting, the CBN governor debunked insinuations suggesting that the early unveiling of the new notes is a means to target some Nigerians.

Mr Emefiele appealed to members of the public, urging them to desist from making such speculation, adding that that there is no need to perpetuate any such information.

According to him, the CBN will intensify the monitoring process and interrogate the process of withdrawals.

Emefiele maintained that there will be heavy restriction on the volume of cash that people can withdraw over the counter, as it works with the Economic and Financial Crimes Commission (EFCC) to monitor the purpose of any heavy transactions.

Immediately after the unveiling, Nigerians started expressing disappointment about the look of the newly redesigned naira notes which were unveiled earlier today by President Muhammadu Buhari. 

Across social media, the general feedback shows that many people are underwhelmed as the new banknotes fell below their expectations.

Many of the people who have criticised the newly unveiled banknotes were particularly critical of the colours. They pointed out that the banknotes look like they were printed with Snapchat filters.

Some Nigerians on Twitter even described the new banknotes as poor quality, attributing the poor designs as proof of the naira’s depreciation. Others questioned the relevance of the redesign, considering how much the CBN must have spent on the project.

Following CBN and Buhari Bashing, Reno took to social media to Educate those who have contrary view about on the positive effects of Redesigned Naira Notes. He tweeted:

The Naira was not redesigned for beauty. It was redesigned for economic and security reasons. And it achieved exactly that. Naira appreciated. Bandits were flummoxed. The dollar is powerful, but not beautiful. Emefiele and the CBN board deserve kudos, not hubris!

He further tweeted:

The dollar is powerful, but not beautiful. The Zimbabwean Dollar is beautiful, but not powerful. Money is not decoration. It is not a Fashion statement. It is a negotiable instrument. Let us learn to celebrate little victories, instead of criticising just to trend.

the positive effects

 

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