UPDATE ON NAIRA NOTE SCARCITY : Non governmental organization seeks extension of naira swap as businesses suffer.



While the supreme court judgement has suspended the February 10 extension, Most Banks and people have ceased to collect the old notes as legal tender.

This Situation has continued to cause untold hardship for Many.

Disturbed by this development,a non governmental organization during a Conference in Benin City ,the Edo State Capital has called for the suspension of the naira swap due to the hardships being experienced by Citizens in getting the new naira notes.

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Members of the Non governmental organization who were joined by market women in Benin City want the Central Bank to adopt more workable measures for the Naira swap.

There is no doubt that Nigerians are going through a tough time getting the new currency at various banks and point of sales agents.

The conference for non governmental organizations, CONGOS is concerned about this development which has not only affected business activities but citizens of Edo state who are lamenting their inability to withdraw enough money from banks to cater for their needs.
Leadership of the Conference of Non Governmental Organizations, CONGOS at a press conference and rally at Oliha market in Benin City blamed the Central Bank of Nigeria CBN for the poor implementation of the currency swap scheme .

They are calling for a six month extension for the naira swap to douse rising tension among Nigerians who queue up at various banks daily to get as little as five thousand naira.

While the supreme court judgement has suspended the February 10 extension, the resolve of speakers at the conference is for government to always recognise the needs of the people and be more proactive in its implementation.


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