Gumi Faults Planned Naira Redesign

Malik Yahya/

Popular cleric, Sheik Ahmad Gumi, has slammed the Federal Government over the move to redesign the naira.

In a reaction on his Facebook page on Saturday, Gumi said that Nigerians living in rural areas would bear the brunt of the move.

He also said that the timing of the redesign was not right.

The piece, which he titled, ‘Changing the Naira: This is no time for economic kamikaze!’ reads, “Many good ideas are marred by wrong timing. This is likely to be another one. No matter how ingenious the hatchers may romanticise; the benefit will remain phantom.

“80% of Nigerians especially rural people depend on cash transactions. A sudden change to a cashless or cash-starved society will mean pauperising them in an unprecedented socio-economic turmoil.

“What we need is a free market-driven economy with minimal cash flow control.

“As for the question of starving kidnappers of Naira, it goes without saying that kidnappers will resort to Dollars and other hard currencies which will further put more pressure on it, making the rotten situation badder(sic).

“Kidnapping can only be stopped by robust policing, social justice for all, and equitable wealth distribution.

“Any cosmetic measures will not stop it. May Allah open our eyes and prevent us from jumping from frying pan to fire. Amin.”

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