New naira: ACF calls for renewal, says government should be sensitive to people’s interests

The mouthpiece for the North, Arewa Consultative Forum (ACF), has called for an extension of the currency swap, which expires on January 31, 2023.

In a statement from the forum’s secretary-general, Murtala Aliyu noted: “As the deadline for the exchange ends next Tuesday, we are concerned that the majority of our rural people will not be able to exchange their old currency for the new one.

The statement also noted that new notes are scarce even in urban centers.

Also, the statement stated, “While the CBN has made some arrangements to facilitate this, the exercise is contested by numerous factors such as the lack of adequate access to banking services on the part of the people, cumbersome exchange procedure, etc.

“This has subjected innocent people to hardship, uncertainty and fear. We firmly believe that ordinary people, especially in the north, will lose their hard-earned money through no fault of their own.

To this end, it said that the government should be sensitive to the plight of the citizens in order to protect their interests in all areas.

“Insinuations by some political actors that the exercise was deliberately designed to fail or create chaos to sabotage the ongoing democratic process must not be proven.

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“Individuals who lose their wealth through uncoordinated government policies or actions are likely to assume they have been abandoned by said government.

“We appreciate the efforts of the National Assembly to intervene and invoke the arrogance and insensitivity of the Central Bank leadership.

“Arewa Consultative Forum (ACF) urges the President and the CBN to urgently extend the expiration date of the exercise and improve arrangements to accommodate anyone with real business.