Nigeria: Why New Currency Was Introduced, By Soludo

Nigeria: Why New Currency Was Introduced, By SoludoThis Day (Lagos)February 18, 2007Posted to the web February 19, 2007Mohammed AminuSokotoGovernor, Central Bank of Nigeria, Professor Char-les Soludo has descri-bed the recent removal of the Arabic inscription on the new notes as not targeted of any group, stating that the denominations were translated into Hausa, Ibo and Yoruba for easy identification and also to promote the Nigerian culture.Soludo made this known, when he paid a courtesy visit to the Sultan in Sokoto.Africa 2007According to him, the translation of the denominations into three major languages was aimed at promoting the cultural heritage of the country."We are here on a sensitisation campaign to enlighten the public on the new currency restructuring in the country which will be launched formally on Febuary 28, 2007. I will also like to inform you that the removal of the Arabic inscription on the notes is not targeted at any group or religion but rather to promote our language and cultural heritage"."As you can see, Naira is the symbol of our nationalism and our pride. It is pertinent to let you understand that Arabic is not one of our national languages and it was inscribed on the notes forty years ago because the majority of people then, can read it in the northern part of the country to the detriment of their counterparts in the South."There is nothing as difficult as change because it is the only thing that is constant. Infact, the country has to grow and move forward and people will get accustomed to the innovation. So, we want Journalists to assist in enlightening the public on the new notes and the reforms going on especially the removal of the Arabic letters on the currency which is done to promote unity in diversity," he explainedRelevant LinksWest AfricaNigeriaCurrenciesResponding, the Sultan of Sokoto, Alhaji Muhammadu Saadu Abubakar, commended him for the banking reforms, which he said, has transformed the economy and financial landscape.Said he: "I personally congratulate you for the wonderful reforms you have initiated in the financial sector which has made the Nigerian economy more viable.""Reform is neccessary for development and progress.Thus, for a country to leapfrog and attain economic growth and prosperity, it requires change which is sometimes painful and against the normal way of doing things. Even here in the caliphate ,we know what reforms stands for and will strive to give our support to enable you achieve your goals".AdminCopyright © 2007 This Day. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). Click here to contact the copyright holder directly for corrections -- or for permission to republish or make other authorized use of this material. AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
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