The presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has called on the Central Bank of Nigeria (CBN) to extend the January 31 deadline for the use of the old N1,000, N500, and N200 naira notes.
Atiku, a former Vice President, said a large number of Nigerians, especially those in the rural areas, will find it almost impossible to meet up with the January 31 deadline set by the CBN, adding that the deadline would cause heavy discomfort for the people.
The PDP presidential standard bearer said this via a video shared on his social media accounts on Saturday.
He stated that it would be magnanimous on the part of the government to ease the burden on Nigerians by extending the deadline.
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 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 a large number of Nigerians.
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“The large number of unbanked population who do their businesses, especially in the rural areas, will find it almost impossible to meet up with the deadline of January 31st to exchange their old bank notes for the redesigned currency.
“I’m aware of the challenges that farmers and others like artisans in remote areas of the country 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 demands for a slight extension of the monetary conversion policy.
“The January 31st deadline is certainly going to cause a heavy discomfort on our people and it will be magnanimous on the part of the government and the regulatory agencies to ease the burden on the people in the public interest.
“While we can continue to sensitise 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 unbanked 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,” the former Vice President stated.
The CBN had fixed January 31 as the deadline for the return of old N200, N500, and N1,000 banknotes, stressing that the deadline was sacrosanct.
The development has continued to generate reactions from Nigerians as there have been calls for an extension of the deadline.
The Senate and House of Representatives have also called for an extension of the deadline.
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