From Ndubuisi Orji, Abuja
A coalition of youth leaders of different ethnic nationalities in the country has lauded the Central Bank of Nigeria (CBN) Naira for Dollar Scheme.
The coalition, in a statement by its Head of Secretariat, Nwada Ike Chiamaka, on Monday, described the policy as a ‘masterstroke’ that will impact positively on the country’s economy.
The CBN had last week announced the introduction of an incentive of N5 for every $1 remitted from Nigerians living abroad in the new apex bank’s foreign remittance policy.
The youth coalition, which consists of leaders of the Arewa Consultative Youth Movement, Ohanaeze Ndi Igbo Youth Movement, Niger Delta Youth Council, Oduduwa Youths and Middle Belt Youths, stated that policy has increased activities in the banking sector.
‘We are of the strong view that this well-thought-out policy will go a long way in strengthening the nation’s currency, the Naira,’ the statement read.
‘It is also very clear that this noble and commendable policy will expand Nigeria’s economy.
‘It gladdens our hearts to learn that the policy might increase the country’s foreign remittances to $34.89bn by 2023.
‘We also noted with delight the forecast by PricewaterhouseCoopers, one of the big four accounting firms, suggesting that Nigeria’s remittance flows could reach $34.89bn by 2023 if the policies were right,’ the coalition stated.
It urged stakeholders in the banking sector to cooperate with the CBN in order to ensure the success of the new policy.