Minister of Labour and Employment Chris Ngige praised the Central Bank of Nigeria’s naira redesign policy, saying it has delivered “sound benefits.” Speaking on Channels Television’s *Politics Today* programme, Ngige noted that the policy has helped curb insecurity, observing that “kidnappers are on break” and “bandits have also gone on holidays.” He also highlighted a reduction in vote‑buying during the 2023 general elections.
Ngige acknowledged, however, that the policy’s implementation was not smooth. He admitted that the rollout caused pain and suffering for Nigerians but emphasized that relief is forthcoming as the apex bank injects cash into the economy through commercial banks. “The policy is not smooth in its implementation. I admitted that. But whether it is a good policy? Yes, it is a good policy,” he said. “It wasn’t smooth; it came with some pain but overall, did we get some sound benefits from it? Yes, we did: people didn’t buy votes on the line (queue) during the elections. I used to go for elections and I know what I see. There was no cash exchange for votes. It wasn’t easy anymore. Kidnappers are on break, they are strike so to say or recess. Bandits, they have also gone on holidays.”
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