The extension of the old naira note has come with huge dismay to some Nigerians who have struggled to change all their old notes before the initial deadline and also to business owners who had suspended all business activities due to the deadline of the old notes. Some Nigerians all across the country are displeased by the extension of the old naira note by the central bank of Nigeria.
The new notes were introduced with a number of restrictions and limitations that made it difficult for many people to obtain them from deposit money banks and agents. This caused confusion and frustration among citizens, particularly those living in rural areas where access to banking services is limited or nonexistent.
As the scarcity of Premium Motor Spirit continues to grow and the difficulties faced in accessing the redesigned naira notes have made life unbearable for Nigerians. Most businesses had been locked up since Friday, January 27, 2023, in a bid to avoid getting the old note from their customers.
An extension of the expiration date of the old naira note to February 10 has caused a lot of dismay and little trust in government policies. A lot of comments have been seen on Twitter pertaining to the extension of the old notes.
Johnsonswiss tweeted: ” Mr. President said no going back after January 31, so why the sudden change? We want to believe in the government through its words and actions. CBN should not blink after this extension; make February 10 your target date stands. People do not know why you change the naira notes.
M.C- The lost oracle tweeted, “It’s quite unfortunate that CBN succumbed to political pressures, and unfortunately, CBN acted to appease the politicians, not purely for ordinary Nigerians or the economy, because there was a high degree of public support that would have helped CBN mitigate the effect of political forces.”.
Sarahyonce tweeted that ” I have endured not using and accepting old notes until now with the mind that new notes will be everywhere on the 31st latest on the 1st of February 2023. “Ooo, make una go scam us.”
“I have been on a bank queue for thirteen hours and all of a sudden an extension is made,” Buiko Udo tweeted. Government should stand by its words and not disorganize the people.”.
MC Lamolo tweeted ” I have stopped all business activities because of the policy but now it has been extended making business owners like myself to lose money for no tangible reason”
Some people have also urged the CBN to extend the deadline because they are relieved of the pressure associated with the expiration of the old notes.
Daniel Regha tweeted that “The CBN extending the deadline is good, but they should also ensure that the new notes are being circulated because extending the deadline is pointless if banks continue to hoard new notes.”
Torto Philemon tweeted, “I thank CBN for their work well done, their agents were able to visit my village, but the main issue was the extension of time for the local people, which I am glad they have listened to the voice of reasonable counseling.”
Ratecaptain believes the extension provides much-needed respite for ordinary Nigerians who rely on cash transactions daily for basic needs like food shopping, transportation costs, etc. This will enable them have more time to go and deposit their old notes in the deposit money banks. The CBN should also monitor the process because it can lead to further economic instability if not managed properly over time.
