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Atiku calls for extension of new Naira swap

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Posted: January 28, 2023 at 7:45 am   /   by   /   comments (0)

Atiku Abubakar, the Peoples Democratic Party’s presidential candidate, has asked for a little extension to the Central Bank of Nigeria’s deadline of January 31 for the exchange of old for new naira notes at the nation’s commercial banks.

Atiku claimed that the suffering brought on by this action was not a goal of the initiative.

The former vice president expressed his opinion on the difficulties Nigerians had in meeting the deadline issued by the nation’s central bank in a video he shared on his verified social media accounts and titled, “My position on the CBN January 31st deadline on the new Naria notes.”

Atiku praised the currency conversion strategy as a common practice around the world but emphasized that the deadline is inappropriate and has to be significantly modified.

He said, “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.

Saying that he is compelled to align his position with other Nigerians for a slight extension of the naira notes swapping, Atiku said, “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.”

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