New Naira Design: Abuja Chamber of Commerce Appeals for Deadline Extension
Following the policy of the Central Bank of Nigeria on the dis-continuation of use of some certain naira notes on the 31st of January 2023, the Abuja Chamber of Commerce and Industry (ACCI) has made an appeal to the Central Bank of Nigeria, that the deadline of the dis-continuation of certain naira notes be extended.
Dr. Al-Mujtaba Abubakar, the president of ACCI made the appeal in Abuja through a statement he issued on Tuesday 22nd November, in respect to the announcement which was made by the Central Bank of Nigeria regarding the dis-continuation of some of the country’s currency on the 31st January, 2023.
The president noted that many experts have reacted to the policy, but some still find it difficult to agree with the strategic objectives of the CBN. Nigerians, however may not really understand the detriment of the policy on the country’s economy, especially on the micro, small and medium enterprises(MSMEs).
Meanwhile, Mr Abubakar also stressed the need for the Apex Bank to earnestly conduct a sensitization campaign to the general public in order to enlighten them on money transaction within and outside the banking system.
While encouraging the CBN to work with other stakeholders in order to expand and sustain the unbanked segments in the society, the chamber advised the Central Bank of Nigeria to provide both financial and non-financial support to curb any negative effect the policy may possibly have on businesses.
