Presidential Candidate of the All Progressives Congress, APC, Bola Tinubu has suggested a number of solutions that could help resolve the current Naira Swap Crisis in Nigeria
In a statement personally signed by him, Tinubu called on the Central Bank of Nigeria, CBN to announce that the old and new notes will co-exist as legal tender for the next 12 months to follow examples of countries that have successfully implemented similar monetary policy.
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He also advised the immediate suspension of associated charges on online transactions and bank transfers and payments via Point-Of-Sale, POS until the current crisis is fully resolved.
Tinubu also called for the mobilisation of all Deposit Money Banks, payment platforms to show clear commitment and timelines on expanding their infrastructure and support services.
His recommendation also include engaging Fintech companies with capabilities into currency Swap programme for the next 90 days to help decongest banking halls and ATM points.
He proposed an Inter-Agency Action Committee comprising the Central Bank and other Ministries Departments and Agencies, MDAs for immediate oversight over the cash supply gaps from the Nigerian Security and Minting Company.
(Editor: Terverr Tyav)
