for the introduction of the policy in October last year with a three-month deadline to allow Nigerians deposit their old notes.Buhari added that he did not consider the period of three months for the change to the new notes as being short.“People with illicit money buried under the soil will have a challenge with this but workers, businesses with legitimate incomes will face no difficulties at all,” he had said.
The policy is also aimed at helping the CBN to better control money supply and aid security agencies in tackling illicit financial flow.the new naira notes — N1000, N500, and N200 — to the public in November, 2022, implementation has been difficult.of 75 percent, it has also led to a scarcity of cash — causing a nationwide hardship on Nigerians who are struggling to access the new naira notes.
Despite various interventions by the CBN to ensure a seamless implementation of the policy, things have only got worse as many fear that the continued cash scarcity could lead to a breakdown of law and order.in some branches due to violent attacks on their staff members and facilities. Many businesses have also been negatively impacted as traders, and fillings stations begin to reject the old naira notes in some states.Buhari, speaking on these issues on February 3, said he had seen reports about cash shortages and the effect on local businesses and ordinary people.
He then asked Nigerians to give him seven days to resolve the crisis caused by the scarcity of the new naira notes.and the Minting Company. There will be a decision one way or the other in the remaining seven days of the 10-day extension,” the president had said.
MBuhari The issue was later taken to supreme court for hearing on 15/2/2023 so the president had to wait. The new money and the deadline will stand
MBuhari 🤣🤣🤣🤣 person wey tell am wetin im talk no dey around to tell am wetin to talk again
MBuhari Most heartless, stubborn, wicked,worst, uncare and unconcerned president MBuhari may we never see your type forever in this nation again
MBuhari Baba don forget immediately en talk am
MBuhari Wetin dey upstairs?
MBuhari Mumu president.. Ode president President that only knows how to condemn nothing more
MBuhari 😂🤣😆 what a mojor decision!!! Is it for garri, is it for ewa? Agbado boys should explain this….
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