Senate has ordered CBN to extend old naira notes till June 30.
NewsOnline reports that the Senate on Tuesday again urged the Central Bank of Nigeria (CBN) to extend the use of old Naira notes till June 30, 2023.
This followed a motion on naira redesign moved by Senator Sadiq Sulaiman (APC-Kwara North) on the floor.
This online newspaper understands that the Upper Chamber on December 28, 2022, advised the CBN to extend the phasing out of old currency notes scheduled for January 31, 2023 for six months.
However, the CBN has vowed to go ahead with its January 31, 2023 deadline.
NewsOnline Nigeria reports that Senator Sulaiman said the call has become necessary in view of the financial hardship the “rushed” phasing out of the old Naira notes would inflict on Nigeria, especially the rural populace, who don’t readily have access to banking facilities.
He insisted that the redesigned notes are scarce and not available for those wishing to change their money to the new notes.
Senators in their contributions supported the motion except Senator Sam Egwu (PDP- Ebonyi North) .