• Business - Banking & Finance
  • Updated: February 18, 2023

Naira Scarcity: Learning from Governor Obaseki's Crises Management Approach 

Naira Scarcity: Learning from Governor Obaseki's Crises Mana

As the Naira scarcity persists and throws citizens into more anguish, the Edo State Governor, Godwin Obaseki's approach of marching into the streets, inspecting the goings-on, and mobilising the POS operators in the process to ease Naira circulation is highly welcome.

Sequel to the naira scarcity caused by the FG naira redesign policy and following widely reported cases of wanton destruction of banking assets and disruption of law and order in Edo State, Governor Godwin Obaseki directly marched into the streets and mobilized some POS operators in the state to dispense some cash to the people of the state while also openly supporting the policy.

Some of the beneficiaries of the program in the video shared by the governor on his Twitter page said they collected N5,000 without charges. 

President Muhammadu Buhari overruled the supreme court ruling on the policy, and the governor has joined the suit to defend the federal government's policy. Benin, Edo - Godwin Obaseki, the governor of Edo state, has mobilized POS operators to dispense N1000 new notes of the state's people. 

In a video shared by the governor on his Twitter page, the people were seen in queues before each POS operator to dispense cash to the people. Godwin Obaseki mobilizes POS operators to dispense cash for people. 

The governor captioned the video as "Naira redesign: Obaseki, CBN, PoS operators meet, strategize on cash disbursement across Edo "says protest, violence in Benin over CBN cashless policy politically-motivated" 
Latest about Godwin Obaseki, naira scarcity, naira redesign, 2023 election. 

Inherent Lessons

It should be recalled that the APC-led government of President Muhammadu Buhari currently enjoys the status of incumbency in all its policies.

However, what we have seen in recent times is a situation where APC governors are the ones publicly criticising the Naira redesign policy of the Buhari-led administration.

Nevertheless, although the Edo State governor is a chieftain of the Peoples Democratic Party (PDP), he and his counterpart in Bayelsa have joined the All Progressives Congress (APC)-led federal government in defending the naira redesign policy at the supreme court. 

This policy has been seen to leave many Nigerians stranded as many could not access their money as the government is trying to force the country into a cashless policy. 

Governor Obaseki has simply manifested a win-win and proactive initiative that must be applauded.

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