The Nigerian Senate wants the Central Bank of Nigeria to extend the deadline for the implementation of the New Naira note Policy by six months.
The Senate has therefore directed the CBN to extend the deadline of its new Policy to the 31st of July 2023.
The upper legislative Chamber’s stand on the matter is the resolution reached following a point of order moved by the Kwara State lawmaker, Senator Sadiq Umar.
The Senate insisted the Deadline for the implementation of the CBN Policy is too short and would only inflict untold hardship on Nigerians following the public outcry.
The Senate said it is still within its purview to ensure that the rights and interests of the people are protected at all costs, and it will stand against any decision that suppresses the voice of the people in a democracy.
The Senate also urged Banks to permit unbanked Nigerians to exchange the Old Naira Notes for new ones.