…advocates deadline extension till July
The Lagos State House of Assembly yesterday called for extension of the mop-up of certain denomination of old naira notes for the redesigned naira note by the Governor of Central Bank of Nigeria, Mr. Godwin Emefiele to circulate properly.
The House called on the CBN Governor to extend the deadline to July, 2023 in support of the prayers by the National Assembly.
Moving the motion on the floor of the House, Rotimi Olowo who highlighted the challenges Nigerians have been facing since CBN Governor came up with the redesigned naira note, said the policy has further worsen the living condition of the masses.
According to him, the policy is anti-masses, citing the fact that entrepreneurs, SMEs, market women who are mostly illiterates takes a larger chunk in the economic spectrum of the country.
“The POS that has offered employment to the teeming youths has been destroyed by the policy.
He added that the IT infrastructure in Nigeria is nothing to write home about. “In as much as we appreciate the rationale behind the policy which is capable of curbing corruption, the negative effect of the policy on the masses is frustrating. The only beneficiary of the policy is the elites, he said.
Corroborating his stance on the matter other lawmakers like; Bisi Yusuff, Rasheed Makinde, Mojisola Meranda, Fatai Oluwa, Adedamola Kasunmu, Jude Idimogu, and Setonji David among others lamented the fact that the policy put together by the CBN Governor has brought untold hardships on the hapless masses.
In their views, “Banks are selling the new naira notes to the highest bidder and they are making life miserable for the average Nigerians.
“We are angry because masses are directly affected by this policy. This is not the right time for this kind of policy and it is targeted at some people. It should be vehemently rejected.
“The present situation in the country is demoralizing. This policy is affecting everybody. People are fighting at the ATM points just to get their monies. The policy is alien to us. There are some communities that do not have banking system. There are some communities that do not have internet facility. Some do not even have mobile phones. How can this policy work?”
In his reaction the Speaker,Rt.Hon Mudashiru Obasa commended his colleagues for their forthrightness and approach to issues concerning the masses.
“Economists have said most times you cannot use new currency to control inflation, it doesn’t achieve the purpose most times.
“There are people in the rural areas. It is obvious that the additional 10 days is not even going to be enough.
“The idea is a good one but the way it is being implemented will have an adverse effect on the people.
“We need to commend the National Assembly for showing quality representation and prompt action to intervene for an extension of the deadline.”
“Our concern is the pain, anger and frustration which the policy has brought.
“The intention of the policy has been defeated. Before embarking on the policy, there should have been engagement and consultation with the people.” Obasa said.
