Naira redesign: Investigate banks over scarcity of new notes – MURIC to EFCC, NFIU

The Muslim Rights Concern (MURIC), on Friday, called on anti-graft agencies particularly the Economic and Financial Crimes Commission and the Nigerian Financial Intelligence Unit to closely monitor how commercial bank managers handle the new naira notes they receive from the Central Bank of Nigeria.

A statement by the Chairman of the Sokoto Chapter of the group, Muhammad Aliyu appealed to Nigerians to remain peaceful and stop panicking about the money swap, calling on the Central Bank of Nigeria and the federal government to extend the deadline for the expiration of the old naira notes by at least two weeks

Recall that the CBN governor Emefiele had insisted on the January 31 deadline for the exchange of old Naira notes.

However, reacting to the directive on Friday, MURIC warned that businesses were grounded in Sokoto, Kebbi, Zamfara and other parts of the country following the short deadline set by the CBN.

He said many businessmen and women have refused to accept the old notes out of fear of possible inability to deposit the notes in commercial banks.

“Many filling stations and other essential services providers are also closed because most of their customers come with old naira notes and they are not sure whether they can deposit same to the bank.” He said.

He said the short deadline has made life more difficult for ordinary citizens, as many Nigerians complain of unavailability and scarcity of new notes.

The group appealed to the federal government and the CBN to reconsider its decision by extending the 31st January 2023 deadline for the expiration of old naira notes by at least two weeks to enable Nigerians swap their old naira with the new naira notes.