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Proposed currency restructuring, not friendly for physically challenged – DWAN


The National President, Deaf Women Association of Nigeria (DWAN), Mrs Beyioku Adedoyin, has condemned the proposed currency restructuring exercise by the Central Bank of Nigeria, saying that the introduction of new notes will not be in the interest of physically challenged people.

Adedoyin, who spoke with Vanguard during a three-day workshop for Persons with Disability (PWD), in Lagos, stressed that many of the PWDs are very poor and bringing in one single N5,000 note will make many people poorer, especially the PWDs.

“I am also not in support of it because it is anti-people and it will make the rich and the powerful to have more money in their hands or pockets, thus successfully widen the gap between the rich and the poor. On behalf of DWAN generally, I say ‘NO’ to the policy of N5,000 single note” she added.

One of the PWDs, who is a broadcaster with Traffic Radio in Lagos, Mr Victor Otehi noted that the idea of introducing a N5,000 single note does not speak well of the nation’s currency, narrating that the denominations of most advanced countries like United States and the British Economics that is likely to be copied are yet to think about that idea of bringing their currency to that level.

“Perhaps the only country that has done that had has its fingers burnt. If you look at Zimbabwe for instance, they had a one-billion-dollar note and why did they bring all that? It is because of inflation, which hit Zimbabwe to the corners. I am sure we won’t want to go in that direction” he asserted.

Otehi pointed out that if the majority of people, especially those who are in the field of economics, deems it fit or has suggested that it is likely to bring about inflation, then the idea of N5,000 single is not welcomed, adding that though he is not an economist but from the lame point the idea of introducing a N5,000 single note is not something that is presently pleasant.


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