Senator Sani wants further review of 10-day extension

The chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, Senator Uba Sani, has advised the federation’s 36 governors to meet with President Muhammadu Buhari to further review the 10-day extension for exchanging old currencies.

Senator Uba Sani, speaking to the BBC’s Hausa Service on Monday morning, pointed out that in addition to the consequences of the limited period given to change the old naira notes, there are also security implications if the time is not extended.

In a statement by Malam Ibraheem Musa, the Director of Strategic Communications of the Kaduna State APC Campaign Council, the senator was quoted as championing the June deadline previously proposed by the National Assembly for the currency switch.

Senator Uba Sani, also Kaduna’s APC gubernatorial candidate, gave reasons why the ten-day period should be extended for another six months.

After passing our motions to extend the exercise until June, we in the Senate and House of Representatives pointed out that the new banknotes are not immediately available at most banks.

“There are also people in the countryside who brought their currency to the bank, but could not exchange it because the new banknotes were not available.

“There are also people living in remote areas who cannot get to the nearest bank before the deadline has passed. There are also some businessmen whose businesses are cash-based,” he said.

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The president of banking, insurance and other financial institutions explained that these reasons underpinned the earlier resolution of the National Assembly, adding that although the deadline has been extended by 10 days, the deadline is still not sufficient .

The statement quotes Senator Uba Sani as saying that the role of the National Assembly in this matter is to pass a motion and advise the executive arm of the government on the dangers of not extending the 10-year term. to dawn.

According to the statement, the senator said legislators are representatives of the people elected by them and they have contacted lawmakers with their complaints and concerns, which they conveyed in the form of a motion.

“The governors who are chief security officers of their states should approach the president and tell him what they are doing to contain insecurity in the various states and to keep the peace.

“They should also point out the security implications of sticking to the new 10-day extension,” the senator said in a statement.