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Redesigned Naira Notes: Sponsors Call for Extension of Deadline to December 2023

The Kolin Allah Association of Nigerian Cattle Ranchers (KACRAN) has called on the federal government to dismiss the Governor of the Central Bank, Godwin Emifiele, and to extend the withdrawal period of the old currency until December 2023.

This came in a statement issued to reporters today, Tuesday, by the Speaker of the National Assembly, Khalil Muhammad Bello.

Khalil said the call was made mandatory after untold hardships with which CBN governors plunged Nigerians and the country’s financial system, alleging confusion over the redesignation of some old currencies and the introduction of new naira notes.

“The failure of CBN to provide enough sufficient new naira notes for circulation is a cause of concern to KACRAN as this has unleashed untold and unnecessary hardships on many Nigerians especially our rural and pastoral people.

“With only a few days left to fully abandon the old coins, many of our members who have given up their livestock to seek to change their old coins are already suffering unimaginable inconveniences and financial losses,” he said.

KACRAN’s national chief alleged that the CBN governor single-handedly orchestrated and implemented this controversial and unpopular policy to the ridicule of the Finance Minister.

“It is also unfortunate that the Governor of the Central Bank of Nigeria has moved ahead with the implementation of this policy without sufficient provision for new currency notes.

“He (CBN Governor) has completely forgotten that Nigeria operates a democratic system of government where people’s views or opinions must be heard and benefited from before government policies are implemented,” Khalil said.

He also accused Khalil Imphile of deliberately subjecting millions of Nigerians to starvation and poverty with the unplanned redesign of the naira, saying many abandoned their legitimate businesses and moved to cities to change their old coins in banks before the deadline.

“In view of this, we the members of the Kolin Allah Cattle Ranchers Association of Nigeria (KACRAN), as peace-loving Nigerians, who will be the most affected victims of the non-extension of the old currency withdrawal, among all Nigerians due to the nature of our pastoral profession which can only be run in the bush.” Or rural areas where banks or points of sale are not available, we call upon Mr. President with enthusiasm to use his good position to dismiss the governor of the central bank, extend the withdrawal of the old currency until the end of December 2023 and replace him with a competent person who manages our central bank efficiently and competently and implements the aforementioned program successfully.

Redesigned Naira Notes: Sponsors Call for Extension of Deadline to December 2023

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