Naira swap: Atiku Abubakar calls for extension

Atiku Abubakar, the presidential candidate for the Peoples Democratic Party, has asked for a short extension to the January 31 deadline set by the Central Bank of Nigeria to exchange old naira notes for new ones at commercial banks in Nigeria.

Atiku stated that the suffering brought on as a result of this action was not meant for the effort.

To share his thoughts on Nigerians’ difficulties in fulfilling the deadline set by the country’s central bank, the former vice president sent a Update to his verified social media accounts captioned “My position on the CBN January 31 deadline on the new Naria notes.”

While Atiku acknowledges the policy of currency conversion as a globally accepted norm, he has emphasised that the deadline is inappropriate and needs to be somewhat altered.

The PDP presidential candidate has commented on the overall response to the CBN’s plan to redesign naira banknotes.

“This exercise is a worldwide practice, and nothing new with it primarily as the January 31 deadline draws closer.

“A great number of Nigerians, out of good conscience, have expressed apprehension about how the policy and the deadline will make life difficult for them.

“I’m also aware of the challenges farmers and artisans in remote areas go through in moving cash to the commercial banks for exchange.

Atiku continued by saying he feels obligated to join the chorus of Nigerians calling for a temporary extension of the naira notes swap.

“The deadline is going to cause heavy discomfort for Nigerians. It will be magnanimous for the Federal Government and the regulatory body to ease the burden of the people while we can continue to sensitise the public on the imperative of mobile banking policy.

“It is important for the CBN to consider an extension for the public to swap their old notes, thereby reducing the financial consequences on these vulnerable citizens; I believe that such painful experience is not the intention behind the initiative, he added.