A Socio-cultural group, The Arewa Youth For Development and National Unity says dateline for phasing out of the old naira note is unrealistic and could cause serious damaging effect on the nation’s economic situation.
National Coordinator of the group Comrade Hamza Muhammed Haruna who stated this at a News briefing in Kaduna, called for immediate sack of the CBN Governor Mr. Godwin Emiefele for inisting on the January Thirty First dateline against appeals by eminent Nigerians including the Sultan of Sokoto Alhaji Muhammadu Sa’ad Abubakar
The group noted with concern that Three days to the dateline, citizens who conduct their daily businesses especially at rural markets, are going through difficult times due to the new policy.
“Nigerians suffer considerable deficit in banking infrastructure. As a result, there is a large population of fellow compatriots in the north and especially in rural areas operating outside the banking system, who are likely to be broken by this harsh unrealistic and unworkable policy”
Comrade Hamza Muhammed Haruna described the 3 months window periods given by the CBN Governor for the currency swap as inadequate for a country like Nigeria with a large population and limited Banks for the people.
“The currency swap regime started in October 2022, with a window of Three months. This period is inadequate from the word go. In developed countries like the UK with over three hundred and fifty banks in all the nook and crannies of Britain, this process takes a minimum of three years with the old currency existing side by side with the old one”.
Comrade Hamza Muhammad maintained that though the group was not against redesigning of the naira notes, but resisting calls to extend the deadline of the currency swap for no justifiable reasons, is a wake up call for all Nigerians especially Northerners.
Cov/ Shindong Bala
