Extension of Deadline For Old Naira Notes: Onitsha Traders Commend CBN
BY Obianuju Azukaego/Nkiru Anakor
The traders in Onitsha have expressed complacent over the extension of new naira notes deadline, commending the Governor of Central Bank of Nigeria (CBN) Dr. Godwin Emefiele for his understanding.
The information officers reported that traders in Onitsha markets had mounted pressure on CBN to extend the deadline for old naira notes to cease being legal tender.
A trader at Ogbaru Main Market popularly known as Relief Market, Mr. Sunday Ogbuka said that the redesigned naira notes were in short supplies in commercial banks, alleging that the new money was being sold in black markets across markets in the State.
Mr. Ogbuka said that the extension of the deadline to Feb. 10 by CBN was a prayer answered as many of his fellow traders were clamouring for the extension.
He said that other traders during the sensitisation of traders in major markets in Onitsha at the weekend by officials of the Central Bank were not happy about the short notice deadline of the old naira notes.
One of the traders, Mr. Chigozie Ezenwa said: “The old notes are expected to be out of circulation by January 31 yet there is scarcity of the new notes as banks keep dispensing old notes to their customers".
The information officers also gathered that different stakeholders, including Monarchs and Religious Leaders in the State had mounted pressure on CBN officials during advocacy visits on them to extend the deadline in order to allow the new notes to circulate well and ensure the mop up of the old notes.
The Central Bank of Nigeria has finally extended the deadline for the exchange of old naira notes by 10 days.
In a press statement issued on Sunday, Dr. Emefiele, the CBN Governor, said the new deadline is Feb.10. (MOI)
The information officers report from Onitsha
RNI
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