January 28, 2023

MURIC tasks FG on deadline for old naira notes


The Muslim Rights Concern ( MURIC) has appealed to the Federal Government to extend the Jan. 31 deadline for expiration of old naira notes by at least two weeks.
MURIC said this in a statement by Malam Muhammad Aliyu of its Sokoto Chapter on Saturday in Abuja.

“This week businesses in Sokoto, Kebbi and Zamfara are almost grounded as a result of the Jan. 31 deadline for expiration of old naira notes as a result of refusal to accept the old naira notes in commercial transactions out of fear of possible inability to deposit the old naira notes in commercial banks.

“This is because every bank a customer goes he would meet a very long queue of depositors, trying to deposit their old naira notes in their attempt to beat the deadline. Businessmen have to be at bank as early as 6:00 am in order to join queue at commercial banks to have their old naira notes changed.

“Moreover, because of lack of enough new naira notes in circulation, fear of receiving old naira notes and unsure of whether one could be able to deposit the money he collected from customers at banks before the deadline due to very long queues many businessmen stopped collecting old notes.

“Many filling stations and other essential services providers also closed, because of most of their customers come with old naira notes and they are not sure whether they could be able to deposit same to the bank,” he said.

Aliyu added: “This has currently made life more difficult to ordinary citizens. Many Nigerians have lamented the nonavailability and scarcity of the new notes, this is because banks up till today, still give out the old naira notes to customers with the deadline only a few days away.

“We also call on the security agencies particularly the Economic and Financial Crimes Commission and the Nigerian Financial Intelligence Unit to closely monitor how commercial bank managers handle the new naira notes, they receive from Central Bank of Nigeria, which apex bank has been consistently insisting that the new notes are readily available at the vaults nationwide ready for collection.

“We call on Nigerians to remain peaceful and stop panicking about the money swap