Customers on Tuesday besieged banks across major cities of Onitsha, Nnewi and Awka to change their old naira notes.
The apex bank had in October last year said the old naira notes would seize to be legal tender from January 31.However, the insistence of the CBN on no reversal on the set deadline instigated Senator Sadiq Umar, to move a motion on the floor of the red chamber on Tuesday, where he demanded an extension to July 31.
Apart from asking the CBN to extend the window for swapping the old notes with the newly redesigned one by six months, the House invited Deposit Money Banks, also known as commercial banks, to a meeting on Wednesday over the scarcity of new naira notes. The lawmakers also urged the CBN to extend the implementation of the cashless policy “to at least six months as well as review the daily withdrawal limit and the charges therefrom.”
“We took every measure to ensure that all the banks were open or remain open to receive the old currencies. We believe 100 days are more than adequate. We called on the banks to extend banking hours and keep doors open on Saturdays. The banks did not have any reason to even keep their banking halls open on Saturday neither did they see the kind of rush. It was the normal people who came and deposited in the banks.
Emefiele said so far, the apex bank has received N1.3tn to N1.5tn from banks since the date of the announcement. The CBN governor added, “By 31 of January, it will be useless in their hands, so I can only just beg them to please bring it. We will take it on or before the 31. Nobody is going to harass you. If you are afraid of being harassed, trust me, we have begged the EFCC. We have begged the ICPC that they should please allow us to do our work so that people can bring more money in. So, we are begging them to bring it in. Nothing will happen to you on my honour.
“We told our people in Banking Supervision to contact the banks. Let the banks give us from their records; how much they have collected from 2016 to date and tell the banks to sign on their headed paper that this is the amount they have collected on Stamp Duty from 2016 to date.
More pressure CBN Nigerians like learning the hard way
This one na gragra. There is nothing like deadline with currency change anywhere in the world talk more of in Nigeria. Old money will still be in circulation till end of this year.
dsonJesusloves BizzyRuby OloyedeOladayo
Hmm may God help us
Omo the fear of Cbn deadline is now trending 👏😂
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