‘Naira not worth the paper it’s printed on’ — Adeboye faults currency redesign

Enoch Adeboye, general overseer of the Redeemed Christian Church of God (RCCG), has faulted the decision of the Central Bank of Nigeria (CBN) to redesign the country’s currency notes.

Adeboye spoke on Friday during RCCG’s November holy ghost service at the church headquarters along the Lagos-Ibadan expressway.

The cleric said the policy “does not make sense” amid the free fall of the naira against foreign currencies.

Adeboye said the decision-makers initiated the policy without considering the current value of the naira and the prices of basic items in the country.

“You know what is going on in our country. It doesn’t even make sense anymore. Our naira now is not even worth the paper it is printed on,” the cleric said.

“While people are hungry, trying to find enough money to buy bread to eat, our bosses are thinking of making the naira more beautiful, even if it can’t buy bread, at least, it will look beautiful.

“We have problems in the land now. Things seem to be getting funnier and funnier. If you don’t learn to laugh in Nigeria now, you will develop hypertension.”

On October 26, Godwin Emefiele, governor of the CBN, announced the plan to redesign the naira notes to control the money supply and aid security agencies in tackling illicit financial flow.

The decision of the CBN has elicited reactions as many Nigerians, including Godwin Obaseki, governor of Edo, kicked against the policy.

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