The Federal Government has explained the persisting cash scarcity and its attendant pains by Nigerians as a result of the introduction of redesigned naira notes should be seen as a temporary sacrifice to achieve long-term economic sanity.
Minister of Finance, Budget and National Planning, Zainab Ahmed, who stated this when she appeared as the 65th guest on the Ministerial Briefing, organised by the Presidential Communication Team at the State House in Abuja, also said President Muhammadu Buhari is not happy about the situation.
Ahmed likened the current situation being experienced by Nigerians to a patient having a wound or deep sore but must submit to an excruciating pain while undergoing treatments.
According to the Minister, the current hardships, though temporal, are required to stifle corruption and gradually transition into a cashless economy.
Responding to a question on whether government is not worried about the hardship that the redesign is causing to the citizens, Ahmed replied, saying: Of course, were not happy that citizens have to queue and struggle at banks ATMs to be able to get their cash; but this is a temporary solution.
The positive side of it is that there is a lot of currency that has been mopped-up by this operation; and this means that it has achieved an appreciable level of success. The only sore point is the pain it has caused to citizens, which is regrettable; but it is also very transient and temporary, which the bank is continuing to address”.
