New Naira: Herders Association Demands One Year Extension To Old Naira Note Deposit

The Nigerian government was urged by the herders group to persuade Godwin Emefiele, Governor of the Central Bank of Nigeria, to push back the deadline until December 2023 for the Old Naira Notes.

Under the auspices of the Kulen Allah Cattle Rearers Association of Nigeria (KACRAN), northern herders have requested an extension of one year for the deposit of the previous iterations of the redesigned Naira notes.

The herders’ group urged the Nigerian government to persuade Godwin Emefiele, the governor of the Central Bank of Nigeria, to extend the deadline to December 2023 in a statement released on Tuesday by its National President of the Association, Khalil Mohammed.

According to Khali, the call became imperative due to untold hardships Nigerians were plunged into and the confusion over the re-designing of some old currencies and the introduction of the new naira notes.

Khali said:
“The failure of CBN to adequately provide sufficient new naira notes for circulation is a cause of concern to KACRAN because this has unleashed untold and unnecessary hardships on numerous Nigerians particularly the rural dwellers and our pastoralists.

“With only a few days left for the total abandonment of the old currencies, many of our members who abandoned their livestock to seek to change their old currencies are already suffering unimaginable inconveniences and financial losses.”

“It is also unfortunate that the CBN Governor, went ahead hurriedly to implement this policy without making adequate provision for the new currency notes.

“He, (the CBN Governor), has completely forgotten that Nigeria is operating a democratic system of government where people’s views or opinions must be heard and utilised before executing government policies.”

He said that:
“In view of this, we members of Kulen Allah Cattle Rearers Association of Nigeria (KACRAN), as peace-loving Nigerians, who will be the most affected victims of the non-extension of old currency withdrawal, amongst all Nigerians.”

“And due to the nature of our pastoral occupation that can only be operated in the bushes or rural areas where banks or POS are not available are passionately calling on Mr President to kindly use his good office to remove the central bank governor, extend the old currency withdrawal to end of December 2023 and replace him with a competent person who will competently and ably run our Central Bank and execute the program under reference successfully.”