34.2 C
Abuja

Naira redesign: CUPP warns against extension

Advertisement

Related

Advertisement
Advertisement

THE Coalition of United Political Parties (CUPP) has warned against attempts by the legislative arm of government to extend the deadline for submission of old naira notes.

CUPP spokesperson Ikenga Ugochineyere faulted moves by some members of the House of Representatives to extend the deadline while speaking at a press briefing in Abuja, themed ‘New Danger Ahead of the 2023 General Election’.

Ugochineyere said All Progressives Congress (APC) members in the House of Representatives were behind the plot to extend the use of the old naira notes.

“The APC upon its control of the House of Representatives seeks the urgent amendment of two laws – the Central Bank Act and the Decimal Currency Act in the Currency Change Procedure Bill 2022.

“These two laws provide in Section 43 of the Decimal Currency Act and Section 23 of the CBN Act for notice of three months by the CBN for the redesigning of the naira. This informs why the current note in circulation would cease to be legal tender by January 31, 2023.

“But we have been informed of a draft bill by the speaker Gbajabiamila and six other APC members of the House of Representatives who want to quickly pass the law to allow produce notice for exchange of the naira to be extended to six months after the 2023 general election which means those with money in their warehouses can use it buy votes in the 2023 election,” he said.

The CUPP spokesperson stressed that the attempt to extend the tender date was self-motivated.

- Advertisement -

“None of these representatives has ever proposed an urgent bill to ease the situation of victims of natural disasters or help the casualties of insecurity in the country,” he added.

Ugochineyere called on the legislature to desist from the move to extend the date for the submission of old naira notes.

“We call on the APC leadership to call their its members in the House of Representatives to order. We commend the Central Bank Governor, Godwin Emefiele for this policy at this time, so that as we enter into 2023 all the money in the warehouses would come out and go to our banking hall.

“It is a huge plan to counter money laundering, corruption and attempt to use the money to buy votes ahead of 2023 General Election.”

Author profile

Stories with punches holding the powerful accountable. His determination to speak out against corruption and influence the conversation in Nigeria, the surrounding region and the continent inspires him.

Support the ICIR

We invite you to support us to continue the work we do.

Your support will strengthen journalism in Nigeria and help sustain our democracy.

[molongui_author_box]

If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation

Advertisement

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Support the ICIR

We need your support to produce excellent journalism at all times.

spot_img
Advertisement

Recent

Naira redesign: Ganduje asks Buhari to postpone Kano visit over ‘untold hardship’

KANO State governor Abdullahi Ganduje has asked President Muhammadu Buhari to postpone his official...

Two years after he was killed, Pelumi’s family says corpse yet to be released

THE family of Pelumi Onifade has said the Lagos State government has not released...

Multiple sit-at-home orders threat to Igbo Presidency — Group

MULTIPLE sit-at-home orders in the South-East could deprive the Igbo of the chance to...

APC accuses PDP’s Jandor of violence

THE Lagos State chapter of the All Progress Congress (APC) has accused the governorship...

EFCC arraigns four over alleged forgery

THE Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) on Friday,...
Advertisement

Most Read

Advertisement

Subscribe to our newsletter

Advertisement