The House of Representatives has asked the Central Bank of Nigeria to extend the deadline for acceptance of the old naira notes by 6 months. The House
The House of Representatives has asked the Central Bank of Nigeria to extend the deadline for acceptance of the old naira notes by 6 months.
The decision was sequel to a motion of urgent public importance moved by Sada Soli, a lawmaker from Katsina State. He stated that banks and other financial institutions do not have the capacity to deal with the rush. “The CBN are in my constituency helping people to swap the old notes. The amount taken to my constituency, the amount is not enough. For 10 years, my constituents have not had access to banks.The Speaker of the House, Femi Gbajabiamila, in his reaction to the motion said there was a need for an investigation into what is stalling the disbursement of the new notes.
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