The Minister of Labour and Employment, Chris Ngige says the naira redesign policy of the Central Bank of Nigeria (CBN) achieved some “sound benefits” as it curbed insecurity and vote buying during the 2023 general elections.
The minister, who spoke on Wednesday during Channels Television’s Politics Today programme, however, admitted that the implementation of the policy was not smooth.
Naira Redesign: Kidnappers are on strike, bandits are on holiday, says Chris Ngige, Minister of Labour and Employment.#CTVTweets pic.twitter.com/1Dxscn47U1
— Channels Television (@channelstv) March 29, 2023
Ngige said, “The policy is not smooth in its implementation. I admitted that. But whether it is a good policy? Yes, it is a good policy.
“It wasn’t smooth; it came with some pain but overall, did we get some sound benefits from it? Yes, we did: people didn’t buy votes on the line (queue) during the elections.
“I used to go for elections and I know what I see. There was no cash exchange for votes. It wasn’t easy anymore. Kidnappers are on break, they are strike so to say or recess. Bandits, they have also gone on holidays.”
On the shelved strike by the Nigeria Labour Congress (NLC), the minister said the apex bank has released cash into the society and that the pain experienced by Nigerians will ease off in the days to come.