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Don’t extend naira swap deadline, Atiku urges CBN

The Peoples Democratic Party (PDP) presidential candidate, Atiku Abubakar, has urged the Central Bank of Nigeria (CBN) not to extend the February 10, deadline for…

The Peoples Democratic Party (PDP) presidential candidate, Atiku Abubakar, has urged the Central Bank of Nigeria (CBN) not to extend the February 10, deadline for phasing out the old naira notes.

There has been pressure on the apex bank from many Nigerians to extend the deadline for the naira notes swap due to the scarcity of the newly designed N200, N500, and N1,000 notes.

The former vice president, in a statement on Thursday, asked the CBN not to grant further extension after the February 10, deadline in order not to destroy the objective of the policy.

He, however, urged the apex bank to immediately review the measures put in place for ensuring the seamless circulation of the new notes to alleviate the “hardship confronting ordinary people across the country, especially rural dwellers, who need cash for their daily transactions.”

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He also alleged that politicians planning to rig the general elections were canvassing for further extension for them to use the old notes to commit electoral fraud.

He said, “The CBN may have to consider printing more currency notes to eliminate the current scarcity among ordinary people, especially rural dwellers who need them for their daily transactions.

“The cashless policy and reduction of the cash in circulation has many advantages and every patriotic Nigerian should support the CBN on this. A cashless economy will help to save and grow our democracy. Those who have devised several means of buying votes in the coming elections and using money to corrupt the electoral system, as well as destroying the principle of ‘one man one vote’ and the goal of credible, peaceful, free, and fair polls are the ones shouting against the cashless policy and naira redesign.”