he Senator representing Ondo Southern Senatorial District, Nicholas Tofowomo has said that Nigerians are facing untold hardship over the scarcity of the new naira notes.
Tofowomo, in a statement by his SA Media and Publicity, Akinrinlola Olumide, made available to Vanguard in Akure, asked the CBN to extend the deadline for the exchange of old naira notes to May 31, 2023, and to open an exchange window for people that don’t have bank accounts to deposit their old notes in exchange for new note.
“As a sitting Senator, I was in the bank on Friday to apply for a little cash, but I didn’t get anything.
“My cheque was returned to me because the bank didn’t have enough new naira notes to pay customers.
” They told me they had paid out what they have for that day even though many customers were still inside the banking hall stranded and shouting.
“In my senatorial district, there are many unbanked residents. More than 300 communities do not have access to commercial banks.
” For the few with bank accounts, they will need to travel far to locate a bank. Thousands of residents are suffering now because they don’t have access to cash to feed their families and transact business.
“They submitted their old notes in line with the CBN directives by all means, but now, the CBN has failed to fulfil its part by providing new notes for them.
“Two heads are better than one, this issue was discussed extensively by Lawmakers who are the mouthpiece of the people across the various constituencies and senatorial districts in Nigeria.
” We took a position by directing the CBN to extend the deadline for the exchange of old naira notes to May 31, 2023, and we similarly urged the apex bank to open an exchange window for people that don’t have bank accounts to deposit their old notes in exchange for new note.
“Currency exchange happens everywhere. I witnessed changes in some currencies when I was in the UK, they didn’t give limited time for currency swaps.
“They will provide many exchange windows so that residents won’t even feel anything. You won’t even know that something is happening unlike what we are facing now. For example, I was in the UK when the 50 pounds was changed.
” The currency swap took place for more than two years and it didn’t affect the UK economy and the quality of the money was very high.
“Look at what happened yesterday in Ibadan where banks were attacked and police station razed by angry protesters.
” That was how the Endsars protests started. This situation must be arrested immediately.
Tofowomo said that” People are already saying this is a plan to cause a crisis to cancel the election and install an interim government. I just hope this is not true.
