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| Oliver Alawuba - GMD UBA |
Group Managing Director and Chief Executive Officer of United Bank for Africa (UBA) Plc, Oliver Chukwudum Alawuba, has described the Naira redesign by the Central Bank of Nigeria (CBN) as the best thing that has happen to the Nigerian economy at this time.
He said that the redesign of the N200, N500 and N1000 denominations remained the way out to strengthen the economy of the country, but hoped the hardship Nigerians are currently passing would easy off soonest.
Alawuba assured that the deposit monetary banks are working assiduously with the Central Bank of Nigeria to erase the present hardship faced by Nigerians in accessing the new naira notes.
Speaking after being conferred with an honorary doctoral degree in Banking and Finance at the 8th convocation ceremony of the Imo State University, Owerri, he said that the new policy will stabilise the Naira and make it stronger in the long run.
He said, "The redesign of the naira is a positive policy that will support the economy in the long run. It's true that we are passing though transition period and I believe that the CBN is working with DMBs to make sure that the aspiration and purpose of the redesign come into fruition for the good of the country."
On the allegations that DMBs are frustrating the intentions of the naira redesign, Alawuba urged Nigerians to focus rather on the positive sides of the policy.
He urged private sector to work in harmony with the public sector to ensure that the purpose of the naira redesign was achieved.
The visitor of the university and Governor of Imo State, Hope Uzodimma that his administration will do all that is needful to help the University, fulfil noble expectation of rising to the challenge of assuming greater responsibility to move the State forward.
The Governor spoke in his capacity as the Visitor of Imo State University during the 8th Convocation Ceremony which held at the Convocation Ground in Owerri in Saturday.
No less than 5000 graduands comprising first degrees, post graduate diplomas, higher degrees and honorary degrees from 2014- 2015 set up to 2021-2022 set which produced 30 first class graduates were convoked.
Speaking on the occasion, the Vice Chancellor, Prof U.U. Chukwumaeze, said that what the institution needed badly is hostels to accommodate the growing population of students to save them from the sharp axes of shylock landlords.
Among those conferred with honorary degrees were former deputy governor of Anambra State, Dame Virgy Etisba, an entrepreneur, Chief Chika Emenike, and Executive Secretary of Nigerian Content Development and Monitoring Board, Simi Kesiye Wabote.
Our correspondent reports that the combined convocation is the first in the university in the last 10 years.
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