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CBN Should Announce Use of Old, New Naira Notes For The Next 12 Months – Tinubu

Published

2 years ago

February 12, 2023

Bola Tinubu, the presidential flag bearer of the ruling All Progressives Congress, APC, in the forthcoming election has appealed to the Central Bank of Nigeria, CBN, to allow the old naira notes to remain in circulation alongside the newly redesigned notes for the next 12 months.

The former Lagos governor stated this on Sunday in a statement issued and made available to journalists by his campaign spokesperson, Festus Keyamo.

Tinubu said he and the APC vice presidential candidate, Kashim Shettima, had nothing against the CBN policy, stressing that they are only worried about the plight of Nigerians who are finding it difficult to obtain the new notes.

“Following the advice of the Council of States, the CBN should announce that the old and new naira notes (especially the non-withdrawn notes and coins) will co-exist as legal tender for the next 12 months to follow examples of countries that have successfully implemented similar monetary policy.”

The scarcity of the new naira notes had caused riots in many parts of the country.