February 16, 2023

Naira swap: Show more competence, NANS charges CBN

Dormant accounts

By Adesina Wahab
The National Association of Nigerian Students, NANS, has called on the Central Bank of Nigeria, CBN, to show more competence in the handling of the ongoing currency swap exercise, noting that the situation has brought a lot of hardship on the citizens.
The student body also said the difficulty in getting the new naira notes is adding to the hardship brought about by the scarcity of fuel, making life to become unbearable for the people.
NANS stated this on Thursday in a statement by the Southwest Coordinator, Comrade Adejuwon Emmanuel Olatunji.
The association opined that if the apex bank showed the competence necessary to execute such a policy, the nation would not have been thrown into what is being experienced now.
“The CBN ordered that the old Naira notes should not be accepted by any commercial bank again at the date it stipulated without any better measure to ensure the interest of the masses is protected.
“There are series of ways to mopping up the old currency and making new notes circulate without frustrating the general public. Apart from the governor of the Central Bank, we have a number of deputy governors and directors, can’t they all think through ways that the policy would be implemented with the least disruption and damage to the national economy.
“Regarding the claim of politicians using money to buy votes, is it only Naira that can be used to buy votes? What will happen if they use other currencies to buy vote? Those in positions of authority and who cannot deliver on the mandate of their offices should just resign. These people should let Nigerians know what they are up to. Do they want the whole country to be set ablaze by protesters?
“Hospitals, even in emergency situations, are not collecting old Naira notes. Hospitals are not even attending to patients who do not have new notes, making old and young Nigerians lose their lives needlessly. For instance, in ibadan yesterday, a child was rushed to an hospital around Akala Express, the doctor did not attend to the child all because of new Naira note policy and they did not accept bank transfer as well which led to the child’s death.
“It is time for students to question the reality of this unreasonable policy. We cannot take it anymore and will not watch this continue to affect our parents, friends and siblings without the government taking necessary actions and showing being responsible. We are using this medium to inform all that we will no longer tolerate this mess and we are saying with one voice, enough is enough.”
NANS also appealed to students across the country to stay calm and be ready to exercise their civic rights during the coming elections by voting the candidates of their choice.