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  • News - North Central - FCT
  • Updated: January 28, 2023

New Naira Notes: Why CBN Should Extend Deadline — Atiku

Amid the palpable tension over the imminent deadline for the phasing out of the old N200, N500, and N1,000 notes, the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar has stated why it should be extended.

The Central Bank of Nigeria (CBN) has reiterated its stance on the deadline, saying it sees no reason for an extension as banks continue to lament the unavailability of the redesigned notes.

Speaking on the issue, Atiku while commending the initiative by the Apex Bank added that it has caused apprehension for citizens.

According to him, shifting the deadline would should magnanimity on the part of the federal government and ease the burden of the people.

“The ongoing policy of the CBN to redesign the naira notes has generated wide reactions across the country and beyond.

“This exercise is a worldwide practice and nothing new with it especially as the January 31st deadline draws closer.

“A great number of Nigerians out of good conscience have expressed apprehension about how the policy and the deadline will make life difficult for them.

“I’m also aware of the challenges farmers and artisans in remote areas go through in moving cash to the commercial banks for exchange.

“The deadline is going to cause heavy discomfort for Nigerians.

"It will be magnanimous for the Federal Government and the regulatory body to ease the burden of the people while we can continue to sensitise the public on the imperative of mobile banking policy.

“It is important for the CBN to consider an extension for the public to swap their old notes thereby reducing the financial consequences on these vulnerable citizens, I believe that such painful experience is not the intention behind the initiative", he stated.

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Sydney Elike
Sydney Elike

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