Naira Re-desisigning Debacle

Forum 1 year ago

Naira Re-desisigning Debacle

Today 10th February, 2023 was to be the last day for the collection of the old naira notes by the Nigerian commercial banks following an extension from the initial January 31st deadline. In many cities and towns in the country, citizens have continued to accept the old notes despite the deadline while in some cities and towns, citizens are rejecting them. Some Banks have also stopped collecting them and have also refused to give out the new notes either.

Like many other Nigerians, my question is, What is the main decision of the NEC meeting Today? Nobody seems to interpret correctly, the exact decision of the meeting and neither CBN nor the Presidency has came out to make an official statement as it concerns the resolutions in the meeting. What we only heard is that they told the CBN to print more new notes or continue using the old notes which to many, are not clear cut decision and have left many citizens in a state of confusion, whether to accept the old notes or reject them.