By Oboh Agbonkhese
Ansar-Ur-Deen Youth Association of Nigeria, ADYAN, Lagos Branch, has faulted plans by the Federal Government to introduce N5,000 note and turn N20, N10 and N5 to coins, stressing that the policy that would cause “economic strangulation” of Nigerians.
At a briefing, weekend, on the association’s youth week, ADYAN’s Chairman, Mr. Shasore Jubril, said: “The proposed N5,000 note is going to cause economic hardship on the average Nigeria. The Federal Government should imitate its Ghanaian counterpart in monetary policies.
“The coinage of N20, N10 and N5 notes will also lead to economic strangulation of the masses as it would cause inflation, since we cannot spend the coins as is the case with N1, 50k and 25k. The government should listen to the masses in their rejection of the plans for N5,000, N20, N10 and N5.”
Jubril said activities to mark the ADYAN youth week include spiritual diet, Jumat prayer, children funfair, singles and married seminar, football tournament among ADYAN branches in Lagos; health talk to be anchored by Dr. Rasak Arogundade, a cardiologist with Lagos University Teaching Hospital, LUTH; and the grand finale luncheon/lecture on Youths and the Nation: A Call to Duty.