CBN’s New Withdrawal Policy Will Lead To Hardship For Nigerians –Bode George

The former Deputy National Chairman of the Peoples Democratic Party (PDP), Chief Olabode George has said the new withdrawal policy of the Central Bank of Nigeria (CBN) will bring more hardship to Nigerians.

Chief George said this at a reception organised for him in Lagos by members of his party, to felicitate with him on the honour bestowed on him by the Rivers State Governor Nyelson Wike, who honoured him with the highest title in Rivers State, Grand Service Star of Rivers State.

He therefore appealed to President Muhammadu Buhari to wade into the matter, before it further ruin the economy of Nigeria.

Chief George said his opinion on the Central Bank of Nigeria (CBN) policy on the ongoing currency rebranding will only further destroy the economy of the nation.

“To come up with the latest CBN pronouncement on daily cash transaction, with the present ugly state of our everyday life of epileptic power supply, high rate youth unemployment and sundry social challenges can only lead to one thing: fiscal and economic suicide.

“All over the country, from Sokoto to Onitsha, to Jankara market here in Lagos, the people will only be more burdened with such policy as our economy is presently cash based in outlook.

“The CBN policy is just too sudden. It will rather make the people sink deeper into misery and poverty. I make bold to say that the country cannot cope with what I foresee as an anti-people policy.

“80 per cent of businesses are still cash based, so it is only instructive for Mr. President to wade into this rudderless monetary policy of the CBN.’’