The Lagos Chamber of Commerce & Industry(LCCI) has lamented the negative impact of the naira redesign on businesses.
Speaking, the director-general of LCCI, Dr Chinyere Almona said: “with the launch of the redesigned naira notes last December, expectations were high for the smooth transition to the use of the new notes for business transactions across the country. We regret to note that expectations have been dashed, business deals impeded, and loss of time and value experienced by many.
“The Central Bank needs to enlighten the public on grey areas about the scarcity of the new Naira notes in addition to strengthening its policy implementation capacity. This is the minimum expectation in the face of a currency crisis in which we find ourselves.”
The new naira redesign, he stressed, has triggered varied reactions and feedback that suggest that related issues like the phasing of old currency notes, withdrawal limit, and the scarcity of new notes may have started to impact…
Source: Leadership Newspaper
