ACF calls for deadline extension of old naira notes

The Arewa Consultative Forum (ACF) has called on President Muhammadu Buhari and the Central Bank of Nigeria (CBN) to extend the January 31 deadline for the use of the old N1,000, N500, and N200 notes.

The ACF said many Nigerians in the rural areas are unable to change the old currency for new ones, noting that the new denominations are scarce.

The Forum, however, enjoined President Buhari and the CBN to extend the deadline and improve on the arrangements to accommodate every Nigerian with genuine cases.

It gave the admonition via a statement issued and made available to The Star on Saturday.

The statement read: “As the date line for the exchange expires this coming Tuesday, we are afraid that majority of our people in the rural areas are unable to change their old currencies for the new ones, this is because even in the urban centers, the new notes are scarce.

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“Also where the CBN made some arrangements to facilitate such, the exercise is being challenged by numerous factors, such as lack of adequate access to bank services on the part of the people, cumbersome exchange procedure, etc. This has subjected innocent people to hardships, uncertainty and anxiety.

“We are of the strong belief that ordinary people especially in the North will lose their hard-earned money through no fault of theirs.
Government must be sensitive to the plight of the citizens to safeguard their interests in all areas.

“Insinuations by some political actors that the exercise is designed deliberately to fail, or cause chaos to sabotage the ongoing democratic process should not be allowed to be proven.

“Persons who lose their wealth through uncoordinated government policy or actions are likely to assume they have been let down by the said government.

“We appreciate the efforts by the National Assembly to intervene and call to order the arrogance and insensitivity being displayed by the leadership of the Central Bank.

“Arewa Consultative Forum ACF strongly calls on the President and the CBN to as a matter of urgency extend the expiration date of the exercise and improve on the arrangements so as to accommodate everyone with genuine cases,” the ACF noted.

The Star