The Director-General, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, NACCIMA, Mr Sola Obadimu, said the Central Bank of Nigeria, CBN, should have introduced the N5,000 note rather than redesigning old notes.
According to the News Agency of Nigeria, NAN, Obadimu disclosed this on Monday.
He spoke amid the suffering Nigerians currently face over the Naira scarcity.
Obadimu said introducing a N5,000 note would have mopped up the money in circulation without creating so much discomfort for Nigerians.
The director-general said the hardship Nigerians faced with the new policy would have been nonexistent or reduced to the minimum.
“If I were the CBN governor, I would have introduced the N5,000 note.
“That would have assisted in mopping up the money in circulation nationwide without the kickbacks we are getting,” he said.
