Dec.31 deadline: Expert worries over non availability of new Naira notes
By Cecilia Ijuo
Mr Gabriel Okeowo, the Country Director, BudgiT Foundation Nigeria, a Non-Governmental Organisation (NGO) has expressed bother over the non-availability of the redesigned Naira notes.
Okeowo expressed his worries in an interview with the News Company of Nigeria (NAN) in Abuja on Sunday.
He stated with six months to closing date for using prone notes, the Central Bank of Nigeria (CBN) must have launched extra novel notes, while incessantly mopping up prone notes.
The nation director stated he became as soon as yet to impress the reason on the encourage of permitting extra prone notes in circulation when the closing date for its employ became as soon as closing in.
In accordance with him, if the CBN continues to originate prone notes rather than novel notes, this can also fair be advanced to mop up the prone notes sooner than Dec. 31.
Okeowo stated moreover the need for availability of the redesigned notes, there became as soon as an pressing want for an overhaul of bank Recordsdata superhighway infrastructure for efficient implementation of the cashless policy.
“If what’s in circulation upright now are the prone Naira notes, it then device even the novel Naira notes are no longer on hand.
“Moreover, as we discuss, the queues don’t have any longer entirely long past, electronic transactions nonetheless decline and cash no longer reversed within 24 hours in most conditions.
“Moreover, the records superhighway infrastructure is no longer developed ample for efficient electronic transactions.
“If all of those are no longer attach in station, I behold a possibility of the extension of closing date for employ of prone Naira notes past Dec. 31,” he stated.
The Supreme Court docket on March 3, dominated that every prone denominations including N500 and N1,000 notes remained staunch till Dec. 31.
The ruling followed the hardship experienced by Nigerians since the Naira redesign and cashless policy of the CBN, which took quit from Jan. 31.
