Naira Redesign-Deadline in Order but......-Prof. Olagoke
The Central Bank of Nigeria(CBN) has insisted that the January 31st deadline for the invalidation of the old naria notes remains unchanged. However, the Federal House of Representatives and the Senate want the apex bank to extend the deadline to 30th June, for the benefit of millions of Nigerians. Interestingly, a sizable number of Nigerians who have handled the new notes have expressed disappointment and dissatisfaction with the quality of the new notes compared to the old ones. In his reaction, the Founder, Spiritual Head and Grand Imam of Shafasudeen-in-Islam worldwide, Prof. Sabitu OlagokeJP, opines that the deadline for the withdrawal of the 200, 500 and 1,000 Naira notes is in order, but warns that this could result in negative consequences. Excerpts: What is your reaction to the insistence of the CBN that the January 31st deadline remains unchanged for the invalidation of the old naira notes? First and foremost, we should not lose sight of the purpose of the introduction of the...