Edo rural residents excited about extension of deadline for new naira notes

RESIDENTS of the communities of Ogan, Iguelaba and Evbuosi, a rural area in Edo State, breathe a sigh of relief after the Central Bank of Nigeria (CBN) extended the deadline for using old banknotes from January 31 to February 10 .

The CBN Governor, Godwin Emefiele, said the extension approved by President Muhammadu Buhari was to allow for the withdrawal of more old banknotes.

It will be recalled that the people of the communities, a border communities with Delta State, were restless about the CBN deadline as some merchants refused to accept the old naira notes even when there were days left until the original deadline.

“I hear it said that CBN is not moving the date to February 10. I am not happy; because since yesterday (Saturday) I’m struggling to use the old money, but many people don’t collect money anymore.

“Now, everyone is going to rearrange themselves before the deadline. No one wants to run down again because of old money issues,” Anselm Obele, a black fuel marketer with the Igbanke community, told pidgin.

Also, a firewood seller in the Iguelaba community, who does not want her name printed, explained in Benin dialect that she had put her old N200, N500 and N1000 banknotes together to exchange with the new banknotes.

The rural resident called on the Central Bank to invest more in raising awareness and to bring its cash swap program closer to people in rural and disadvantaged areas.

‘My son tells me to collect all the old money, which I haven’t done since last Thursday, but he still hasn’t come from Benin to help me change it into new ones.

“Thank God tell them they’re no longer, and I believe I’m going before then, haven’t changed, let the person rest,” she said

At the Evbuosi community, people couldn’t hide their excitement as those who spoke out claimed they previously thought the deadline extension was untrue until they read about it online.

“Personal spirit, come down now. Old money wahala doesn’t show anyone the way,” said a trader

Emefiele had announced the introduction of new naira notes on October 26, 2022 to replace the current N200, N500 and N1,000 notes and also Tuesday, January 31 as the deadline for phasing out the old naira notes.

The move forced many into a race against time to rid their pockets, purses and wallets of the old notes before CBN announced an extension on Sunday.

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