Scarcity: Buhari Demands 7 Days To Decide On New Naira Notes

President Muhammadu Buhari on Friday urged citizens to give him seven days to resolve the issue of scarcity of new naira notes plaguing Nigerians.

The President made the appeal while speaking to the Progressive Governors Forum, who came to the Presidential Villa to seek solutions to the cash crunch, which they said was threatening the good records of the administration in transforming the economy.

According to Buhari, the currency re-design will give a boost to the economy and provide long-term benefits.

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He, however, expressed doubts about the commitment of banks in particular to the success of the policy.

Some banks are inefficient and only concerned about themselves”, said the President,

“even if a year is added, problems associated with selfishness and greed won’t go away.”

He said he had seen television reports about cash shortages and hardship to local businesses and ordinary people and gave assurances that the balance of seven of the 10-day extension will be used to crack down on whatever stood in the way of successful implementation.

I will revert to the CBN and the Minting Company. There will be a decision one way or the other in the remaining seven days of the 10-day extension,” the President assured.

Naira Scarcity: Man Slumps, Dies In Delta Bank

A certain man has reportedly collapsed and died at a bank in Agbor, Delta State.

The said man had stood in a queue waiting for several hours to withdraw cash before the attack.

One Omole Mike confirmed the incident on Facebook in a recent post.

According to Mike, the tragedy occurred inside the banking hall on Thursday afternoon, February 2, 2023.

Mike said:

Just now, at about 1:30 pm. Somebody collapsed and died in the First bank of Nigeria, Agbor Branch. The Date is on 02-02-2023. May his Soul Rest in Peace. It is well.”

Allow New, Old Naira Notes to Co-exist, APC Govs beg Buhari

Meanwhile, Members of the Progressives Governors’ Forum on Friday begged President Muhammadu Buhari to tell the Central Bank of Nigeria to allow the old and new naira notes to co-exist.

According to the APC governors, allowing the old and new naira notes to co-exist would ease the current scarcity of naira notes and its struggle.

Governor of Kaduna State, Nasir El-Rufai spoke to journalists in Hausa shortly after governors elected on the All Progressives Congress ticket met the President at the State House, Abuja.

El-Rufai argued that the move had become necessary as the CBN mopped up over two trillion Naira of the old notes but only printed N300bn of the new ones.

According to him, the new notes in circulation are insufficient for Nigerians.

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