Come up with strategy to stop naira depreciation, Edwin Clark advises CBN

Edwin Clark, convener of the Pan Niger Delta Forum (PANDEF), says the Central Bank of Nigeria (CBN) should come up with measures to mitigate naira depreciation while redesigning the currency notes.

The CBN recently announced the plan to redesign the naira to control money supply and aid security agencies in tackling illicit financial flow.

The apex bank aims to redesign the N200, N500 and N1000 notes — with circulation expected to begin mid-December.

Speaking in an interview with NAN, Clark urged Godwin Emefiele, governor of CBN, to put short-term plans in place to curb the negative effects on the naira during the redesigning process.