• Weeping for the Scarcity of New Records in Rural Areas, Distress Caused by Policies
The northern leaders have asked the Governor of the Central Bank of Nigeria (CBN), Godwin Emeifele, to extend the expiry date of the old naira notes as legal tender in the country, following the distress experienced by Nigerians, to adopt the new notes. for business transactions and meeting domestic economic needs.
Arewa Consultative Forum (ACF) and Arewa Youths for Development and National Unity (AYDNU) have opposed the timeline given by the CBN on the new naira notes, asking the apex bank to extend the 60-day deadline.
The Secretary General of ACF, Alhaji Murtala Aliyu in a statement, yesterday, in Kaduna, said “as the deadline for the exchange expires on Tuesday, we are afraid that the majority of our people in the rural areas will not be able to exchange the old currency.”
“This is because even in the city center, new records are rare,” he said.
Aliyu said: “Also, where the CBN has made some arrangements to facilitate, the exercise has been challenged by factors, including lack of access to bank services, complicated exchange procedures and others. uncertainty and anxiety.
He continued: “We strongly believe that ordinary people, especially in the north, will lose their hard-earned money through no fault of their own. The government must be sensitive to the plight of the people to protect their interests in all areas.
The ACF secretary noted that “the insinuations by some political actors that the exercise was deliberately designed to fail, or cause chaos to sabotage the ongoing democratic process should not be allowed to be proven. Those who loose their wealth through uncoordinated government policies or actions may consider if they have been let down by that government.
“We appreciate the efforts by the National Assembly to intervene and call for the arrogance and insensitivity shown by the leadership of the Central Bank. ACF calls on the president and the CBN to quickly extend the expiration date of the exercise and improve arrangements to accommodate all those who have genuine cases.
Also, the National Coordinator of AYDNU, Hamza Mohammed Haruna, who addressed a press conference at Arewa House, said: “You all know the inexplicable distress over the insensitive monetary policy of the CBN under the supervision of the highly partisan governor, Godwin Emefiele. of the Federal Government last year to redesign the naira.
According to him: “We want to state that we are not against the policy of changing the country’s currency, but against the mad haste and intransigence of Emefiele to stick to the unrealistic deadline of January 31, 2023.”
“We were concerned at the beginning that the three-month window provided for the exchange of currencies was not enough, although all the variables necessary for a smooth exchange of currencies remained in place.”
“Our nation, sadly, has a deficit in banking infrastructure. As a result, there is a large population of our countrymen in the North and especially in rural areas that operate outside the banking system, which is likely to be damaged by this unrealistic and unworkable harsh policy”.
He continued: “The currency exchange regime begins in October 2022, with a window of six months. This period is not enough. In developed countries such as the United Kingdom (UK), this process requires at least three years with the old currency existing alongside the old one. Now, England is going through a new currency change with the death of its longest reigning monarch, Queen Elizabeth II.
“Here with a clear deficit, Emefiele is determined to bury the nation by insisting that the deadline is sacrosanct. The signs of failed policies are so visible that this weekend, most commercial banks are still giving old notes, which confirms the concern that the deadline is not can be done.
“We are of the opinion that the difficulty in accessing the new currency notes and the intransigence of the CBN governor to the deadline despite the entreaties of prominent citizens and thought leaders, among which Eminence, the Sultan of Sokoto, Alhaji Muhammadu Sa ‘ad Abubakar, is deliberate and intended to cause economic injury which harms the majority of Nigerians, especially in rural Nigeria, who form 70 to 75 percent of the population.
“After witnessing, first-hand, Emefiele ignoring calls, including the National Assembly to procrastinate on January 31, we are convinced that Emefiele is an enemy of the state and a saboteur of the Buhari administration.”
“We are also confident that he can work with elements in the opposition PDP. Rejecting the request to extend the currency exchange deadline without justifiable reason, is a wake-up call to all Nigerians especially Northerners.
“We urge the president to immediately remove partisan politicians and incompetent regulators before burying the entire nation,” added the Arewa youth.