Naira Redesign | Atiku Backs Policy, Appeal For Old Notes Swapping Deadline Extension | Video

A former Nigeria vice president and the Peoples Democratic Party’s presidential candidate, Alhaji Atiku Abubakar has appealed to the Central Bank of Nigeria (CBN) to extend the deadline for the swapping of old naira notes to new ones.

Atiku’s appeal is coming barely 72 hours before the deadline given by the apex bank for Nigerians to deposit their old notes in the bank.

Many Nigerians, including politicians, have objected to the deadline, urging the CBN to rescind its stand n the January 31st deadline.

Reacting to the development, Atiku acknowledged that currency redesign is a global and standard practice.

He, however, believed that the level of infrastructural development to aid the CBN cashless policy in Nigeria, especially the rural areas require more time, so as not to inflict more pain on Nigerians.

He, therefore, opined that the Federal Government and the CBN should reconsider their stand on the January 31st, 2023 deadline.

In a video press released by the politician and obtained by CityNews, titled ‘My Position On The CBN 31st Deadline On New Naira Note’, Atiku said, “The ongoing policy of the Central Bank of Nigeria to redesign the naira has generated wide reactions across the country and beyond.

“This exercise is a worldwide practice and therefore it is not anything new, 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 more difficult for Nigerians. 

See Also:

Why I Ran Away From Home To Join Nigerian Army – President Buhari Reveals

Man Kills Four People, Prepares Plantain Porridge With A Victim Intestines

Tinubu Celebrates As Court Sacks Davido’s Uncle As Osun State Governor, PDP Protest

“The large numbers of unbanked populations who do their businesses, especially in the rural areas would find it almost impossible to meet up with the deadline of January 31st to exchange their old bank notes for the redesigned currencies.

“I’m aware of the challenges that farmers and others in the rural areas go through in moving cash to commercial banks for the conversion.

“On this note, I’m compelled to align my position with the upsurge of demand for a slight extension of the monetary conversion policy.

“The January 31st deadline is certainly going to cause heavy discomfort for our people, and it will be magnanimous on the part of government and the regulatory agency to ease the burden on the people in the public interest.

“While we can continue to sensitize the public on the impending imperative of mobile banking policy, it is important for the CBN to consider an extension of the time that the public can convert their unbank monies into new notes thereby reducing the financial consequences on these vulnerable citizens.

”I believe that such a painful experience is not the intention behind the currency redesign initiative.”

My position on the CBN January 31st deadline on the new Naria notes. -AA https://t.co/FP3me2VLjZ

— Atiku Abubakar (@atiku) January 28, 2023