National Association of Nigerian Students (NANS) has called on the Central Bank of Nigeria (CBN) to extend the deadline for the exchange of old naira notes for the new notes from January 31 deadline to July 2023.
NANS director of travels and exchange, Comrade Salawudeen Kamorudeen Alade made the call in a press statement he issued yesterday. Alade said CBN needs to be cautious in its proposed plan to stop accepting the old naira notes from 31st January of this year and avoid any missteps that could undermine the confidence of Nigerian students in the financial system.
“At this period, we expect CBN to come up with better policies and plans that will curb inflation and have positive impacts on our economy. I join the Senate of the Federal Republic of Nigeria in demanding an extension of the expiration date of the old naira notes to have enough time for the circulation of the new naira notes.
“The CBN should extend the expiration deadline of the old naira notes from 31st of January 2023 to a later date in six months’ time for an efficacious circulation of the new naira notes.“I hereby call on the Federal Government and Central Bank of Nigeria to review this step with immediate effect while Nigerians are expecting a hybrid of strategic plans, reforms, and policies that will make a positive impact on our economy,” he said.
He further stressed that as a country where citizens are experiencing a high cost of living, it is imperative to state categorically that Nigeria’s economy at this present moment needs to be reformed. “Issuance of the new Naira note and its implementation at this difficult time by CBN is just a misplaced priority and the implementation should be reviewed without delay,” it added.