www.thecitizenng.com/other-news/new-n100-notes-wasteful-ill-timed-tuc/

Trade Union Congress of Nigeria, TUC, over the
weekend faulted the introduction of new N100 bank
notes by the Central Bank of Nigeria, CBN, to
commemorate Nigeria’s centenary celebration,
saying it was ill-timed and wasteful.

In a statement by its President and Secretary
General, Mr. Bobboi Kaigama and Musa Lawal
respectively, TUC said “printing of new currency is
usually a capital-intensive venture, and raises
questions as to how the CBN hopes to grapple with
the economic implications of redesigning and
printing the new bank notes.

“Even the timing of the project is inappropriate,
coming so late in the year when the economic hustle
and bustle associated with Christmas and New Year
are nigh.

“These, together with the heightened state of
insecurity in parts of the country, the frenzy of
political activities and electioneering campaigns
towards the forthcoming 2015 elections, and the
current slump in global oil prices make this the
worst possible time for such drastic fiscal policy.”