Old Naira Notes: Banks Are No Longer Giving Out Money – Ortom

The Governor of Benue State, Samuel Ortom has urged President Muhammadu Buhari and the Central Bank of Nigeria (CBN) to extend the deadline for the phasing out of the old naira notes to June 2023.

CBN had earlier moved the deadline for the expiration of old Naira notes from January 31st to February 10.

However, Ortom, while speaking on Monday in Makurdi, urged the President to once again consider moving the deadline till June as it was obvious that it was further inflicting hardship on the masses.

According to the Governor, banks now find it hard to give out cash, both old and new, for Nigerians to carry out their daily activities.

He said, “I join the National Assembly to appeal to President Muhammadu Buhari and also alert him that the people are already in distress and are suffering because of the new Naira notes and the cashless policy.

“Though the redesign is good and it is done all over the world but for our economy, the timing is completely wrong and it is creating a challenge for all Nigerians.

“So I appeal to Mr. President and the Central Bank to extend this exchange of the old currency to June. That is the right thing to do now because of what Nigerians are going through due to the policy.

“You go to the banks they would not be able to give you old notes and they, at the same time do not have the new notes to dispense to Nigerians from their ATM. Nigerians cannot have cash for their daily use.

“So it is a big problem that has been added to the pains being faced by the suffering people. It has to be revisited without further delay.

“Mr. President should look at this matter passionately because the policy is not working. People are getting restive and agitated because they are crowding all available ATM machines and are not able to get the new currencies.”