Why Not Phase It Out Gradually? Nollywood Actress, Kate Henshaw Reacts To CBN Moves On Naira Note

Nollywood actress, Kate Henshaw, has expressed worries over the sudden decision of the Central Bank of Nigeria to redesign some naira notes.

It will be recalled that the CBN Governor, Godwin Emefiele, revealed this development on Wednesday in Abuja.

Emefiele stated that President Muhammadu Buhari has authorised the redesigning, production and circulation of new N200, N500 and N1,000 notes, adding that Deposit Money Banks holding the existing denominations of the currency to “begin returning these notes back to the CBN effective immediately”.

Reacting, Henshaw condemned this development, noting that there are pressing issues the country needs to swiftly address.

She said: “Nigeria to redesign in the midst of all that is going on, in the thick of elections, floods, insecurity etc.

“It is redesigning of the Naira and giving up just weeks for this to happen!! The Nigeria I know, some traders will soon stop receiving the current currency.”

Barring the short time frame given, Henshaw expressed empathy for residents in rural communities.

She added: “The queues will be a nightmare!! Quote me…What of those in the rural areas who handle mostly cash & have to travel miles to the nearest bank?

“Why not phase it out gradually?

“I don’t get it!!”