The Arewa Consultative Forum, a pan-northern socio-political organization, has urged the Central Bank of Nigeria (CBN) to extend the deadline for exchanging old currency notes for new ones in commercial banks across the country. The Forum emphasized that such an extension would alleviate the suffering of Nigerians, particularly those in rural areas, who risk losing their hard-earned money. This appeal was articulated by the Forum’s Secretary General, Murtala Aliyu, in a statement issued to journalists in Kaduna on Saturday.
The ACF highlighted the need for the government to be sensitive to the challenges faced by ordinary Nigerians and to consider extending the January 31 deadline, after which the old naira notes will no longer be considered legal tender. The organization expressed concern that as the deadline approaches, many people in rural areas are unable to exchange their old currency for new notes. This difficulty is compounded by the scarcity of new notes even in urban centers.
Furthermore, the ACF pointed out that while the CBN has made some arrangements to facilitate the exchange, various factors such as limited access to banking services and cumbersome exchange procedures have hindered the process. These challenges have resulted in significant hardship, uncertainty, and anxiety for many citizens. The Forum believes that ordinary people, especially in the North, could lose their money through no fault of their own, and it urged the government to be responsive to the needs of its citizens to protect their interests.
The ACF also addressed concerns regarding insinuations from some political actors that the currency exchange exercise is intentionally designed to fail or create chaos, potentially undermining the ongoing democratic process. They warned that individuals who suffer financial losses due to poorly coordinated government policies may feel let down by their government.
In light of these issues, the ACF expressed appreciation for the National Assembly’s efforts to intervene and address the perceived arrogance and insensitivity of the CBN leadership. The Forum strongly called on the President and the CBN to urgently extend the deadline for the currency exchange and to improve the arrangements to ensure that everyone with legitimate cases can participate in the process.
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