Breaking: Senate orders CBN to extend deadline for implementation of new naira notes policy

The Nigerian Senate had urged the Central Bank of Nigeria to extend the deadline for the implementation of the New Naira note Policy by six months.

 

The upper legislative Chamber’s stand followed a point of order moved by Kwara State lawmaker, Senator Sadiq Umar .

 

The Senate insists the Deadline for the implementation of the CBN Policy is too short and would only inflict untold hardship on Nigerians following the public outcry .

 

The Senate says it is still within its purview to ensure that the rights and interest of the people are protected at all cost, and it will stand against any decision that suppresses the voice of the people in a democracy.

 

It  has now directed the CBN to extend the deadline of its new Policy to the 31st of July 2023.

 

 

It  also urged Banks to permit unbanked Nigerians to exchange the Old Naira Notes for new ones .