Buhari To Restore Old N1000, N500 Notes As Legal Tender
Information reaching Ibom Focus says that Buhari To Restore Old N1000, N500 Notes As Legal Tender
The Peoples Redemption Party (PRP), has appealed to President Muhammadu Buhari to prevail on the Central Bank of Nigeria to restore old N1000, and N500 notes as legal tender until the authorities print enough currencies to replace the old ones.
The party made the appeal, on Friday in Abuja, during the public presentation of its manifesto for a better Nigeria.
PRP National Chairman, Alhaji Falalu Bello, lamented the insufficiency of new Naira notes in circulation, calling for urgent intervention to ease the hardship of the masses.
Bello also argued that the withdrawal of over N2 trillion from circulation and printing of N300 billion by the authorities was a recipe for crisis.
According to him, “Any policy that denies citizens access to their money is not good and is not a good policy.
“It (the Naira Redesign Policy) is a man-made crisis which is avoidable. We ask the President to tell the financial regulator to return our money.
“Although President Muhammadu Buhari has just about three months to leave office, history beckons him to take for Nigeria masses some important decisions that will ease their livelihood, make lives more meaningful and begin to address corruption in the land which has made lives unbearable.
“An exercise that withdraws over N2 trillion and prints only N300 billion with the result that people don’t have access to their legitimate credit balances and have not been given new currencies in place of the old ones they deposited is most certainly wrong, inhuman and could be said to be illegal as it does not pass the reasonable standard test put in the CBN Act of 2007.
“We, therefore, ask President Muhammadu Buhari to immediately instruct the CBN to return to Nigerians the old currencies it has caused them to deposit with Nigerian banks and allow those old currencies to remain legal tender until the CBN prints enough currencies to replace old ones.
“This minimal, Nigerians expect of Mr President will ameliorate the hardship that ordinary Nigerians are facing.”
Bello, thereafter, presented a 34-page manifesto titled ‘Compact With The People: Manifesto Of The PRP For 2023 Election’ which he said will address the problems the country is presently passing through under the APC government.
The manifesto, a six-point agenda, dwelled on revamping the economy, promotion of education and human capital development, national unity and genuine federalism, enhancing national security and revamping the extractive industry, oil, gas and solid minerals.
