Labour Party Caucus Leader, House of Representatives, Afam Ogene, Criticizes Central Bank of Nigeria’s Indecisiveness on Old, New Naira Notes
Abuja – Labour Party Caucus Leader in the House of Representatives, Afam Ogene, has faulted the Central Bank of Nigeria (CBN) for its unclear stance on the validity of old and new Naira notes.
Ogene’s statement follows the CBN’s clarification that the Supreme Court’s latest ruling did not specify an end date for the old N200, N500, and N1000 notes.
The House had previously asked the CBN to address the concurrent validity of both notes. Ogene noted the CBN’s lack of policy direction is embarrassing.
He questioned the purpose of introducing new notes if not to replace old ones. Ogene also criticized the poor condition of currency from commercial banks, resulting in citizens losing significant amounts due to mutilated notes.
The CBN should not hide behind “deadline ad infinitum” to avoid its responsibilities, Ogene said.
