Kwankwaso condemns CBN deadline Policy on new naira notes design

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The candidate of the New Nigeria Peoples Party (NNPP) described the policy of the Central Bank of Nigeria concerning the currency redesign as a “mistake.”

The CBN had placed a deadline for using the old naira notes while the new naira note is in poor circulation, causing tension as Nigerians scrambled to meet the policy.

The redesign of the N200, N500, and N1000 has caused condemnation across the board as the Presidential candidate of the All Progressives Congress (APC) claimed it was an attempt to sabotage his winnings.

The Presidential candidate of the New Nigeria Peoples Party Rabiu Kwankwaso
The Presidential candidate of the New Nigeria Peoples Party Rabiu Kwankwaso

According to CBN, the deadline is January 31, warning that there would be no extension or going back on the date.

The NNPP Presidential candidate on Arise TV on Thursday said the policy was causing hardship for Nigerians.

He added that those in Rural areas will not meet the deadline due to the short time left.

The former Kano Governor said, “Well, I have listened to all the leaders who are trying to defend the issue of this redesign. As far as we are concerned, those of us in NNPP, we believe that it was a mistake, especially the timing,”

“You cannot just come last minute and create the issue of redesign within a short period of time in our circumstance today in this country. Three months is not adequate. If you look at currencies all over the world, people will stay for decades with the same currency without changing or redesigning.

He said his advice was because of the reality on the ground, adding that “we are the people in touch with people at the grassroots. People are suffering and worried. I can assure you by the 31st of this month, there is no way Nigerians, especially people in the rural areas, people with no banks in their local government, can do this change within the stipulated time.

“In other words, so many people will lose their savings. So, many people will run into a crisis. These are innocent people, people who have earned a living and worked so hard.

“Government, in our opinion, should reverse this position because some are saying they don’t even have the money on the ground.

“Some are saying the very people they wanted to suffocate, that’s the senior politicians, who we believe can never be suffocated.

“Some of these parties’ candidates are owners of banks. The two parties have got governors everywhere. Governors order banks to bring as much money, the whole money in the state to the government house and keep it.

“If you’re dealing with bank owners and people who have trillions, billions in the banks, you cannot do anything. The money meant for the people will all be packed by these money bags and that is a very serious problem.”

‘Use firm decision in dealing with insecurity’ – says Kwanwaso

Kwankwaso condemns the stance by the CBN not to go back on the deadline, describing it as “not the best,” while urging the Federal government to channel such firm decision in dealing with insecurity in the country.”

“My suggestion is: please, federal government, don’t say no going back. This is not a situation of no going back. If you want a situation of no going back, please, we want to hear you talk about the bandits in the north-west or Boko Haram in the north-east, or other criminals elsewhere,” he said.

“No going back; you are going to clear them; that is good. But no going back, in this case, is not the best.

“Extend time. If you don’t want to or you don’t have money, allow people to go deposit and keep their money and when you have money, you’ll pay them. I think that will help.”

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