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 - N1000, N500 and N200 - 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.
PDP Presidential Candidate, Atiku Speaks On January 31 Deadline For Old Naira Notes, Sends Warning To Central BankThere has been tension across the country as many banks have been overcrowded with Nigerians who want to deposit their old naira notes.
There has been tension across the country as many banks have been overcrowded with Nigerians who want to deposit their old naira notes. 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.
‘’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.”
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