Currency Redesign: To Extend The Deadline Will Defeat The Aim
Countries don’t just wake up redesign their currency because it involves a significant cost
Whilst reasons for redesign are numerous; in the case of Nigeria, Corruption is pandemic and a big problem. Corrupt and wicked Nigerians have stocked large amounts of cash outside the official financial system
One of aims of the current redesign exercise in Nigeria is obviously to tackle the issue of corruption by corrupt people who settle their corruption activities in cash
To extend the deadline will give these rogues more time to come up with ways to circumvent the redesign and therefore defeat the aim of the exercise.
