Old notes: Atiku calls for extension, says Jan. 31 deadline will cause heavy discomfort

The presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has called for extension of deadline by the Central Bank of Nigeria (CBN) to phase out old naira notes in circulation. The apex bank had issued January 31 as the deadline the old naira notes will stop being legal tender, insisting it would not […]

The presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has called for extension of deadline by the Central Bank of Nigeria (CBN) to phase out old naira notes in circulation.

The apex bank had issued January 31 as the deadline the old naira notes will stop being legal tender, insisting it would not extend the period.

There has been tension across the country as many banks have been overcrowded with Nigerians who want to deposit their old naira notes.

There have been calls on the CBN to extend the date considering the scarcity of the new naira notes and the problem of rejection of the old naira notes for transactions.

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Atiku in a short video released on social media on Saturday, said the deadline is creating hardship on Nigerians.

According to Atiku, redesigning of currency is a normal thing across the world, hence the situation in Nigeria is not unusual but rather the January 31 deadline is creating hardship on the people.

He said, “The ongoing policy by the Central Bank of Nigeria to redesign the naira notes has generated wild reactions across the country and beyond.

“This exercise is a worldwide practice and not anything new, especially as the January 31 deadline draws closer, a large number of Nigerians out of good conscience have expressed apprehension about how the policy and the deadline will make life more difficult for Nigerians.

‘’Many Nigerians, especially farmers, artisans and those in the rural areas do not have bank accounts, so the time frame for the change of old notes to new one is not achievable.”

He appealed for the extension of the deadline so as to address the situation of hardship facing the people.

“On this note, I am compelled to align with the upsurge of demands for a slight extension of the monetary conversion policy.

“The January 31 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 agency to ease the burden on the people for the public interest,” he said.