 [Source](https://unsplash.com/photos/ZP7cq__1kAc) Hi great people, On a beautiful Wednesday morning from my end here in Nigeria and I trust you are doing great wherever you are now. My beautiful country Nigeria just released a redesigned naira note which we've been waiting for so long. I kept asking myself one singular question, what need is the redesigned naira note do to the present Nigerian decaying economy? Is this an improvement or a set back? Is this an empowerment or a degradation? Is this advancement or retrogression? This left me in absolute obscurity till now. In an attempt to find relevant rationale behind the decision just I stumbled on a new update published by the central bank of Nigeria. I wasn't satisfied with the redesigned naira note talk more of the new policy released by the central bank of Nigeria. The new policy has given a restriction to withdrawal made from the counter of a bank or via POS or any financial institution per week and per day. The policy says an individual can only withdraw maximum of ₦100,000 in a week while on a daily basis ₦20,000 while for cooperate account can only withdraw ₦500,000 per week and 50,000 a day. I started wondering could this also spice the development of the new redesigned naira? Since I grew up and started understanding the financial play by the government, a lot of policies has been developed and directed to the citizens but at the end thereof only the common man faces the challenge. Can a politician just withdraw that amount just for a day or even week? That may be mission impossible for me. I began to think of a business man who runs millions of transaction at times daily or weekly what would become of such an investor? I don't think this would be a panacea to the present challenges being experienced by Nigerians. My take is initiating policies are good but what would be the resultant effect to common man? I don't see this as an achievement in a decaying economy like ours. We are good at setting policies without deliberately sticking to the existing ones will amount to nothing. If this is a way to curl financial misappropriation then this may not be too ok for me. Let's not just keep copying other developed nations policies without looking inward at our challenges, peculiarities and what is workable for us. I stand to be corrected but that's my take. #### thanks for visiting my blog and all the comments appreciated. Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@fasacity/new-redesigned-naira-policy-my-take)
| author | fasacity |
|---|---|
| permlink | new-redesigned-naira-policy-my-take |
| category | hive-167922 |
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| created | 2022-12-07 03:29:12 |
| last_update | 2022-12-07 03:29:12 |
| depth | 0 |
| children | 0 |
| last_payout | 2022-12-14 03:29:12 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.422 HBD |
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| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 2,616 |
| author_reputation | 123,784,920,781,547 |
| root_title | "NEW REDESIGNED NAIRA POLICY; MY TAKE." |
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| post_id | 118,912,898 |
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| author_curate_reward | "" |
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