PUBLIC ADMINISTRATION DEPARTMENT ORGANIZES SEMINAR, DISCUSSES 2022 NAIRA REDESIGN POLICY
By: Busari Mariam Adeola
The department of Public Administration, The Polytechnic, Ibadan held its yearly seminar presentation on Thursday 16th May, 2024 at the Public Administration Hall 2.
At the seminar, Dr. T.O. Adeyeye presented a paper on the topic; 2022 Nigeria Naira Redesign Policy. The event had in attendance the Dean, Faculty of Business and Communication Studies, Dr. (Mrs) Kehinde Faniyi, Dean of Social Management and Humanity, Mr. Akeem Akinyemi, department head of Office Technology Management, Dr. D.L. Fakorede, the head, Public Administration department, Dr. O.O. Oyewo, and lecturers, Dr. T G. Ajani, Mr. T.G. Akano (Language and Communication Studies Department), Mr Richard (Language and Communication Studies Department), Mr. Abolade (Business Administration Department), Mr. Bolaji Aderemi (Business Administration Department), Mr. Lukman (Local Government and Development Studies), Mr. Y.B. Wahab, Mrs. Oke Olayinka, Mrs. Adeyinka Adebayo, and students across all levels of the department.
While presenting, Dr. Adeyeye explained that currency redesign is a common global phenomenon and a central bank's exclusive responsibility. He said that constitutional clarity on the central bank's duties is essential, and currency redesign should be part of this mandate. However, the naira redesign policy was poorly executed due to a lack of consultation, politicization, and judicial interference. These issues ultimately led to policy inconsistencies and a reversal, he concluded.
Following the presentation, a panel of experts provided feedback, acknowledging that change is constant. They assessed the work emphasizing on the importance of proper paperwork structuring, methodology, punctuation, and considering international perspectives when discussing national issues.
In his response to comments, Dr. Adeyeye said that no man is an highland of knowledge, he appreciates the observers and promised to make corrections where necessary.
The session came to a close end with closing remarks from Mrs. Oke Olayinka.
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