Reps vow to pressure CBN to withdraw or extend deadline on old notes

From Mustapha Adamu, Kano

The House of Representatives has vowed to pile pressure on Central Bank of Nigeria, CBN to either extend that January 31 deadline to stop using old naira notes or withdraw it at all.

A member representing Tarauni Federal Constituency at House of Representatives, Hafizu Kawu Tarauni made the pledge while addressing newsmen on the matter.

According to the lawmaker, the entire National Assembly is not in support of the January 31 deadline on old naira notes as the decision has inflicted hardship on common Nigerians.

He said the House of Representatives bad formed a committee, under the chairmanship of the House Leader, Alhassan Ado Doguwa, to summon the governor of CBN and chairmen of commercial banks to discuss on how to extend the deadline.

Kawu argued that even developed countries like UK and USA had redesigned their currency many times, but had a good system that eases the whole policy for the common citizen.

“Our demand and suggestions are that the CBN should either extend the January 31 deadline by at least 3 more months or 4, or the deadline should completely be removed to allow the citizens deposit the old notes gradually with ease as it is practiced in developed countries.

“But this decision has inflicted hardship on citizens. We are concerned about the plight of the citizens in this situation.

“I am personally concerned about the plight of my people in Kano state and the Nation as a whole. We will not allow this situation continue. We must do something,” he assured.

The lawmaker urges the citizens to remain calm as the National Assembly is up and doing to esnure the policy is reviewed in such a way that it favours the citizens.

“We will do all we can, within the purview of law to ensure the CBN review with policy by coming up with a system that will ease the suffering of Nigerians,” he said.