The Igbo socio-cultural organization, Ohanaeze Ndigbo Youth Council Worldwide, and the Yoruba Youth Council (YYC) have backed the Central Bank of Nigeria (CBN) cashless, noting redesign and withdrawal limit policies.
Last week, the CBN announced some cash withdrawal limit policies, a development that generated mixed reactions from Nigerians.
In separate statements issued by the National President of Ohanaeze Ndigbo Youth Council Worldwide, Mazi Okwu Nnabuike, and his YYC counterpart, Comrade Eric Oluwole, said that the youths were in support of the decision of the apex bank.
The youth groups berated members of the National Assembly for kicking against the policy, adding that it would give room for corruption to fight back.
The Igbo youth leader, Mazi Onabuike, said that: “At a time that the economy is bleeding, Nigerians should support any measure aimed at stabilizing the naira.
The cash withdrawal limit is an effective monetary policy.
“We, the Igbo youths, are firmly in support of the policy, as it would aid in fighting corruption, which has been entrenched in the Nigeria system. We also do not doubt that it will help in the stabilization of the exchange rate and reduce inflation.
“It is also a bad market for all vote buyers. As Nigerians prepare for the 2023 election, all those who have stashed money waiting to buy vote must be living in regrets now.”
Onabuike, while noting that there were other far-reaching benefits “that would help secure the future of our children and our youths”, urged the National Assembly to stop further opposition to the policies, stressing that in the long run, the masses would reap the benefits.
Meanwhile, Comrade Oluwole, maintained that the redesign notes would accelerate Nigeria’s migration into a cashless economy, as being done in many countries across the globe.
