The Nigerian Senate has lodged a complaint about the proposed phasing out of the old Naira notes.
Recall that the Central Bank had set January 31, 2023 as the official date for the old N200, N300 and N1000 notes to be phased out.
However, as of the time of writing this report, only a handful of persons are in possession of the new notes and most of them are not common Nigerians.
The motion was moved by Ali Ndume, the Senator representing Borno South.
Ndume argued that the notice was too short and that for States like Yobe and Borno States where there are quite a few banks, making it an uphill task for those living in these states to deposit them before the deadline.
To this end, Ndume who said this at Wednesday’s plenary, suggested June 30th, 2023 to be the new deadline for phasing out the old notes.
