NACCIMA hails redesigning, reprinting of Naira, calls for credible election in 2023
The Nigerian Association of Chambers of Commerce, Industry, Mines And Agriculture (NACCIMA) has declared its support for the redesigning and reprinting of Naira notes announced by the Central Bank of Nigeria (CBN).
The apex bank had in a recent special press briefing announced the redesigning, production and circulation of N100, N200, N500 and N1000 Naira notes, hinging its decision on the persisting concerns being faced with management of the current series of banknotes and currency in circulation, particularly those outside the banking system in Nigeria.
Speaking at a press briefing on Thursday, the National President of NACCIMA, Ide John C. Udeagbala, said being a key function of CBN in line with section 2(b) of CBN Act, 2007, NACCIMA wishes to commend the apex bank for this development aimed at controlling the quantum of Naira in circulation.
Udeagbala said there is no doubt that the measure will significantly help to: control currency circulation outside the banking system and enhance monetary policy control as a measure to further control inflation, improve currency security, improve electoral transparency and reduce corruption arising from possible vote trading during electioneering campaign towards 2023 elections and improve use of technology in our banking system and enhance a growing adoption of cashless money transfers.
“While we note this useful decision of the CBN, NACCIMA encourages appropriate mix of both monetary policy and fiscal discipline and expenditure by both the government and political gladiators.
“It is important that the current government focuses on governance and achieving election promises made during the last elections while current political players should deemphasize vote buying and focus their campaign on socio-economic issues of importance to the ordinary Nigerian.
“NACCIMA is willing and ready to work with various agencies of government to achieve economic growth and prosperity of the nation through policy recommendations that will enhance ease of doing business and improve the GDP,” he added.
The NACCIMA President also spoke on the need for credible elections in 2023 in order to ensure that democracy is fully consolidated in the country and improve the quality of the citizenry.
“With the 2023 general elections around the corner and the recent kick off of campaigns by the various political parties, the government is under obligation to ensure credible free and fair elections in the country.
“NACCIMA calls on all agencies of government responsible for organizing the 2023 general elections, including the security agencies, political parties, politicians and their supporters to work towards ensuring peaceful atmosphere that guarantees the rights of every eligible Nigerian to participate fully and cast their votes without fear and rancour.
“ INEC, being the principal agency charged with the responsibility of conducting election in Nigeria should constantly assure Nigerians and indeed the whole world of, not only their willingness but also their readiness and appropriate preparedness to conduct credible 2023 elections in Nigeria,” he said.
According to him, “this will give Nigeria credibility and improve our ratings among the comity of nations while also promoting democracy in Nigeria, Africa and indeed the world in general.
“It may interest you to know that NACCIMA, as the voice of the Nigerian business community is poised to hold a dialogue with the Presidential candidates of the major political parties towards ensuring appropriate information and enlightenment of the electorates of the manifestoes of the various candidates vying for presidential position and also the promotion of the organized private sector for desirable growth and development of the economy.”
