New notes: Nigerians in pain, I don’t have cash – Fashola

The Minister of Works and Housing, Babatunde Fashola, has said that Nigerians are going through a tough time because of the new naira notes policy, saying he does not have cash.  The former two-time governor of Lagos stated this during an interview on Channels TV’s Politics Today. Fashola said that the new policy is not […]

The Minister of Works and Housing, Babatunde Fashola, has said that Nigerians are going through a tough time because of the new naira notes policy, saying he does not have cash. 

The former two-time governor of Lagos stated this during an interview on Channels TV’s Politics Today.

Fashola said that the new policy is not working at the moment.

Daily Trust reports that Nigerians have continued to queue at Automated Teller Machine (ATM) locations or pay high withdrawal charges to Point of Sale (PoS) operators to get the new naira notes.

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After governors of the ruling All Progressives Congress (APC) under the aegis of the Progressive Governors’ Forum (PGF) urged President Muhammadu Buhari to allow both the old and new naira notes co-exist last Friday, the president said he would take a critical decision on the issue in seven days.

Commenting on the naira redesign policy, Fashola said, ” The facts that I can talk about on the new policy is that I can see pain. I see people at ATMs. I see people in banks crowded struggling to get their money. I take feedback. I don’t have cash, too. I don’t. The policy is not working at this moment. It is causing unintended consequences.”