Old Notes: Don’t Yield To Pressure From NASS to Extend January 31 Deadline, CSO Tells Emefiele
- Mixed reactions have continued to trail the deadline for the use of the old naira notes in the country
- In fact, the Nigerian Senate noted that there will be chaos if the Central Bank of Nigeria insists on the January 31st deadline
- Interestingly, a civil society organisation has urged the CBN to stand firm on its decision and not yield to pressure, noting that the apex bank is on the right path to revive the nation's struggling economy
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On Wednesday, January 25th, a Civil Society Organisation, CSO, Concerned Nigerians, CN, threw weight behind the Governor of Central Bank of Nigeria, (CBN), Godwin Emefiele, and the stoppage of the old naira notes.
Vanguard reported that the group urged the CBN's governor not to yield to pressure from the National Assembly, (NASS), over the extension of the January 31st deadline on stoppage of circulation and use of the old Naira notes.
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CBN governor gets backing over stoppage of old naira notes
The Convener, CN, Comrade Deji Adeyanju, who condemned the directive by the National Assembly, said legally the CBN remains an independent agency of government that cannot be cowed to do the bidding of NASS based on the Act establishing the CBN.
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Adeyanju also said the directive by the NASS to the CBN does not hold water in any way, because the CBN is on the right path to rescue the economy and stop vote buying ahead of the 2023 general elections.
Adeyanju further declared that he stands with the decision of the Apex bank’s governor.
“The reason why I stand with Emefiele on the deadline of 31 January is that when January 31 comes and when it begins to pump the new Naira notes into the economy there will not be enough money for politicians to gather to buy votes.
“The whole idea is to prevent vote buying and I see the wisdom in it.”
On his counsel to the CBN governor, Adeyanju said,
“My message to Emefiele is he should stand firm on this issue and the deadline. He should stand firm and strong on this issue, na one time person dey die.”
Fuel scarcity, Naira redesign comment: Peter Obi reveals why Tinubu should stop going to Abeokuta
Meanwhile, Peter Obi, the presidential candidate of the Labour Party, has advised his rival and All Progressives Congress (APC) standard-bearer, Asiwaju Bola Ahmed Tinubu, to stop going to Abeokuta, the Ogun state capital.
The LP presidential candidate gave the advice in a statement released by Diran Onifade, head of media, Obi/Datti Presidential Campaign Council.
He was reacting to Tinubu's controversial statement on Wednesday, January 25, when he visited Abeokuta for his ongoing campaigns ahead of the February 25 presidential election.
CBN chooses 5 banks for cash swap programme, excludes Lagos, Abuja PoS operators
Legit.ng reported that the Central Bank of Nigeria (CBN) named about five money deposit banks to participate in its cash swap initiative.
The development comes as the deadline for the expiration of old N200, N500 and N1,000 notes as legal tender approaches.
The information was contained in an Frequently Asked Questions (FAQ) document released by the CBN on Monday, January 23, 2023, where the it detailed the procedure for the cash swap programme.