Monarchs begs CBN to extend old naira deadline

Joy Onuorah
Joy Onuorah

Oluwanifemi Ojo


The OkuIbom Ibibio and President General of Akwa Ibom State Traditional Rulers Council, Edidem Solomon Etuk, appealed to the Central Bank of Nigeria to extend the deadline announced for the phasing out of the old bank notes.

The monarch told the Branch Controller, Central Bank of Nigeria, Uyo branch, Akwa Ibom State, Itohan Mercy Ogbomon-Paul during her team’s advocacy visit to the palace. The purpose of the visit was to seek the assistance of the traditional ruler in sensitising his subjects about the new naira note.

Presenting his feedback, the OkuIbom of Ibibio promised the CBN team that he would mobilise the town criers to disseminate the message on the New Naira notes to his subjects. He then appealed that the set date for phasing out the old naira note be extended .

He said, “I am appealing on behalf of my people of Akwa Ibom State that CBN should extend the deadline. The time given is too short. Whatever policy we introduce in the system, we must ensure that the underprivileged do not suffer.

“With the level of poverty in our midst, whatever policy we want to introduce must take a gradual process. As traditional rulers that is our concern. You should extend the deadline and keep on sensitising the people on this cashless policy.”

The monarch stressed that there was also the need for the apex bank to do more sensitisation in rural communities on the cashless policy, for the benefit of the underprivileged persons.

However, the Punch reported that residents across the local government areas especially traders are complaining bitterly about the the scarcity of the redesigned notes. This is because the Automated Teller Machines in their commercial banks is yet to dispense the new naira note.

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