Omoyele Sowore, the African Action Congress presidential candidate, has said redesigning the naira would not reduce insecurity in the country.
Sowore said kidnappers would start demanding ransom in foreign currencies with the new policy of the Central Bank of Nigeria, CBN.
The AAC presidential candidate also described the redesigning of the naira note as a senseless policy.
According to Sowore, the Governor of CBN, Godwin Emefiele, should resign.
Asked if the policy would reduce kidnapping and insecurity generally, Sowore said: "Of course no, kidnappers would merely switch to demanding foreign currency as most of the high profile ones already do now.
"It is a senseless policy. The CBN Governor had no business redesigning the naira, he owes Nigerians a resignation from office."
He also dismissed the controversy surrounding the Arabic inscription on the naira notes.
While some Nigerians have been calling for the removal of the inscription, others want it to remain in the redesigned naira notes.
Commenting on the issue, Sowore said:
"It doesn't matter to me what's inscribed on the naira as long as it is strong in terms of purchasing power.
"If you like inscribe Swahili on it or Japanese, these are mundane issues."
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