By Prince Eze
Following the new naira redesign policy and its attendant hardship in the country, an Igbo Catholic Priest, the Rev Fr Magnus Ebere has called on the Federal Government to peg Nigeria’s highest Naira denomination at Two hundred Naira (N200).
The Rev Fr Magnus Ebere who made the call at the Cananland Counselling Centre a.k.a E-Dey Work Adoration ground, said the measure will go a long way to curb the unbearable looting of the nation’s treasury by the high and mighty in the society.
The fiery Catholic Priest said with the highest denomination pegged at two hundred Naira, it will not only be cumbersome but very inconveniencing for someone to carry one million naira of the currency and move about.
Fr Ebere noted that because the nation’s currencies have Five hundred and One thousand naira denominations, that is why people can carry billions of it and keep in their houses without being noticed.
Fr Ebere who is the Founder of the Cananland Adoration Ministries a.k.a E-Dey Work stated that United States of America has one hundred dollars as its highest denomination, yet everything including the economy is stable and moving well.
He suggested that the federal government should use the present Monetary Policy to remove the Five hundred and One thousand naira as legal tenders.
