Photo credit: Vanguard news Nigeria.
By Correspondent in Lagos.
The Senate has appealed to the Central Bank of Nigeria (CNN) to extend the deadline for the exchange of old naira notes from the January 31 to July 31, 2023.
The red chamber made the appeal on Tuesday, following a motion moved by Senator Sadiq Umar on the floor of the Senate in which he called for the extension of the deadline to July 31,2023.
The Senator had expressed worry about the insistence of the apex bank that, there would be no such extension of the deadline of January 31,2023.
The Reporters recalls that the apex bank had on October last year, said the old naira notes would cease to be legal tender from January 31.
However,the Senate, December in 2022, passed a resolution during which it urged the CBN to extend the deadline to June 30.
The online publication gathered that
most senators,in their contributions to the debate, overwhelmingly embraced the extension.
They said that their support for the extension of the deadline became necessary because of the scarcity of the new notes in the banks and at the various automated teller machine (ATM) points through out the country.
When the President of the Senate, Ahmad Lawan put the prayers in the motion to vote, most of Senators voted in support of the extension of the deadline from January 31 to July 31.
Our Correspondent, who visited some banks in Lokoja,kogi State on Tuesday, reports that many bank customers complained of insufficient new notes for them to cash and added voice to the calls from various section of the population of the country for the extension of the deadline.
Edited by Dada Ahmed.
