Lagos — The Lagos Chamber of Commerce and Industry (LCCI) has implored Nigerians to give the new currency restructuring initiative of the Central Bank of Nigeria (CBN) a chance.
President of the chamber, Goodie Ibru, in a statement said the policy should be seen as a response to current economic dynamics.
He however advised the central bank to ensure that introduction of higher denomination should maintain an incremental sequence of N2000 and N5000 in line with historical trend and international best practice.
He said the central bank should constantly ensure a proper alignment between the cash-less policy and its currency management strategy.
"However, what is paramount at this time is for the CBN to relax its current tight monetary policy and risk management guidelines in order to improve access to credit and reduce the cost of fund in the economy. It is time to focus on efforts to stimulate the economy and promote growth," he said.