Naira Swap: After Meeting With Buhari, Lawan Speaks on CBN’s Deadline, Reveals Fresh Position
While Nigerians are confused about what may become their fate going forward, filling stations and business outlets have started rejecting the old naira notes, saying it expires today But the Senate President, Ahmad Lawan has revealed that there should be no time limit for the validity of the legal tender.
The president of the Senate, Ahmad Lawan says there is no need for a time limit on the validity of the old naira notes. He made this disclosure on Friday, January 10th, to journalists after a meeting of the council of state, presided over by President Muhammadu Buhari, The Cable report confirmed.
Lawan said he told Buhari, in a separate meeting, that the national assembly has resolved that there should be no deadline for the currency swap because of the way it has impacted Nigerians.
“For us in the senate, initially we felt that this policy in the first place is not a bad one. But we also feel there is no need for time limit,” he said.
“Allow the old and the new to co-exist until the old is phase out. So, what is wrong in that? This is not going to be the first country to deploy it that way,” Lawan added.
Recall that the CBN had been asked through an order ex-parte by the Supreme Court to suspend forthwith the deadline fixed for the 10th of February of holistically phasing out the old Naira notes of N200, N500, and N1000.
