Naira Redesign: Rural Communities Will Be Affected By CBN Deadline, Says El-Rufai

With some local governments not having banks, the governor fears that beating the CBN deadline is infeasible.

A file photo of Kaduna State former governor, Nasir El-Rufai.
A file photo of ex-Kaduna State former governor, Nasir El-Rufai.

Governor Nasir El-Rufai of Kaduna state has asked the Central Bank of Nigeria (CBN) to extend the January 31st deadline for the acceptance of the old Naira notes, stating that the timing is too short.

El-Rufai was of the opinion that many rural dwellers who do not have access to financial services will be mostly affected by the decision

Speaking in an interview with reporters in Kubau local government area of Kaduna state, the governor insisted that it is impossible for local farmers and traders in most of the communities in the state to meet up with the CBN deadline on depositing their old Naira notes, as some of the local government areas do have any bank presence , and therefore are not financially included.

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While he expressed support to the redesigning of the currency by the CBN, El-Rufai says that the rural communities must be given more opportunity to exchange their old Naira notes even as he said that access to bank branches is limited in rural communities and therefore charges the central Bank and other financial institutions to find a way of swapping the old Naira notes in the rural communities.