Most Rev. Lucius Ugorji, President Catholic Bishops Conference of Nigeria (CBCN), on Sunday, urged the Federal Government to review the new cash policy to ease the hardships it has caused Nigerians.
Ugorji made the appeal at the opening of the 2023 First Plenary of CBCN held at the Catholic Secretariat in Abuja.
The meeting has the theme: ‘Citizens’ participation in good governance in Nigeria’.
While expressing sadness over the situation, Ugorji said that the policy had resulted in a serious cash crunch, anger and frustration among Nigerians.
“Our collapsing national economy worsens the ugly situation. While the value of the Naira continues to decline, the cost of basic commodities, including food items, continues to soar, with serious effects on the lives and livelihoods of our people.
“The disastrous implementation of the Central Bank of Nigeria’s (CBN) cash swap policy, which resulted in a cash crunch, has added to the ordeal, anger, and frustration of the masses,â€