FG Tells Nigerians What To Do With Old Naira Notes
While President Muhammadu Buhari keeps mum, hours before the deadline for the use of old naira notes, the leadership of the National Assembly has called for the continuous use of the old notes.
Senate President Ahmad Lawan and House Speaker Femi Gbajabiamila met with the president shortly after the end of Friday’s National Council of State meeting where they made their stance known…….CONTINUE READING
At the end of the meeting, Mr Lawan told journalists that they had advocated the continued use of the old and new notes.
“For us in the Senate, initially we felt that this policy is not a bad policy but we are also feeling that there is no need for any time limit; allow the old and the new to co-exist until the old is phased out,” the lawmaker said.
“This is not going to be the first country to do it that way. Other countries have been doing it that way. To say that in three months it will be okay, it is not okay. Especially in a country like ours where 80-90 per cent of the population have no access to banks.”
The Central Bank of Nigeria fixed yesterday, 10 February as the deadline for the use of old naira notes.
However, the scarcity of the new notes has lingered with millions of Nigerians unable to access cash for their needs.
President Buhari had assured Nigerians that he would review the situation and make a decision today. However, hours before the deadline, he has yet to do so.
Details later…cONTINUE READING
