Ajiri Imah
The Centre for the Promotion of Private Enterprise (CPPE) has called on the Central Bank of Nigeria (CBN) and President Muhammadu Buhari to allow old naira notes to be deposited at commercial banks.
In a statement issued by its Chief Executive Officer, on Sunday, Dr Muda Yusuf, said the directives from the CBN on where to deposit the old notes is inflicting pains on millions of innocent Nigerians seeking to return the old notes.
Dr Yusuf added that the process of returning the old notes has caused chaos and may be overwhelming for the CBN to manage without affecting the citizens.
“There is only one branch of the CBN office in each state of the federation and the FCT. It is practically impossible for the CBN to manage this process without subjecting citizens to another round of painful experience”.
“The experience and images and disorderliness of the past few days at the CBN offices graphically illustrates this position.
“We appeal to President Muhammadu Buhari and the CBN to give this process a human face. The agony and trauma inflicted by the entire management of the policy is unspeakable.
“Accordingly, we plead with the CBN to allow the old notes to be deposited at the commercial banks to ease the current pains and ordeal of returning the old notes.
“The process should also be simplified to accommodate millions of rural dwellers, the informal sector players, the over 30 million unbanked Nigerians and several millions that are not literate.
“It is bad enough that their lives and livelihoods have been terribly disrupted and disoriented. We plead with the CBN to review its processes in the interest of fairness, justice and social inclusion”, he noted.