New notes: Atiku demands extension of deadline for Naira swap

The Peoples Democratic Party (PDP) Presidential candidate, Atiku Abubakar, has called on the authorities to consider an extension of the deadline for swapping of the old naira notes for new ones in commercial banks of the country.

Recall that the Central Bank of Nigeria (CBN) had given Nigerians until January 31, 2023, to return their old N200, N500, and N1,000 notes to the bank following the introduction of the redesigned versions of those three series.

However, Atiku, while reiterating his support for the new CBN policy, demanded a slight extension to the deadline given by the apex bank due to the unintended difficulty Nigerians are currently going through to get the new notes.

The former Vice President said this in a new video posted on his verified social media handles on Thursday, January 26, 2023,

Titled, “My position on the CBN January 31st deadline on the new Naira notes,” the video showed Atiku expressing his views on the challenges faced by Nigerians in their attempt to beat the deadline announced by the CBN.

While appraising the monetary conversion policy as a global best practice, the former Vice President argued that the deadline is inadequate and should be slightly adjusted.

Atiku's words: “The ongoing policy of the CBN to redesign the naira notes has generated wide reactions across the country and beyond.

“This exercise is a worldwide practice and nothing new with it 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 difficult for them.

“I’m also aware of the challenges farmers and artisans in remote areas go through in moving cash to the commercial banks for exchange."

The PDP Presidential candidate further stated that he was compelled to align with other Nigerians for an extension of the naira notes swapping.

He sad: “The deadline is going to cause heavy discomfort for Nigerians. It will be magnanimous for the Federal Government and the regulatory body to ease the burden of the people while we can continue to sensitise the public on the imperative of mobile banking policy.

“It is important for the CBN to consider an extension for the public to swap their old notes thereby reducing the financial consequences on these vulnerable citizens, I believe that such painful experience is not the intention behind the initiative"