The decision and declaration of the Central Bank of Nigeria today as regard the proposed deadline date for the old naira notes to stop being in circulation has garnered and stirred several mixed reactions hitherto and has also got many people talking.
The CBN issued out stern warning to the masses by insisting on sticking to the February 10th deadline for the swapping of the old naira notes.
The initial January 31st deadline for the old naira notes was extended with a grace of 10 days which lapsed four days ago following the outcry of Nigerians as there was scarcity of the new notes which were not in circulation as expected compared with the demands.
However, the Supreme Court ruled in the favour that the usage of the old notes should be extended beyond the set date by the CBN, while the council of of state in a meeting held with president Buhari advised that the deadline be extended to ease hardship being experienced by Nigerians. These appeals and developments seemingly calmed the tension down before the issue took another twist on Tuesday when the CBN in a statement released insisted on the February 10 deadline.
Civil Society Organizations as well as some political parties have insisted that the CBN goes on with the new policy a this will check against some ills in the polity.
Reactions for and against the policy have continued to emerge. In ogun state state, th governor Dapo Abiodun thr3atened to shut down any com ercial bank that refuses to collect the old notes in enforcement of the new CBN policy.
It is expected that as the general elections draw closers these reactions will continue to emerge as the cash flow crunch bites harder.
What’s the situation at your end?
