7 Days Is Too Long To Make Pronouncement On Cash Crunch, Afenifere Tells Buhari

The pan Yoruba socio-political organization, Afenifere, has stated that the seven-day request made by President Muhammadu Buhari to resolve the problems associated with cash crunch in the country was too long, saying the twin problem of fuel and Naira note scarcity has made lives of many Nigerians miserable.

Afenifere in press statement signed by its National Publicity Secretary, Comrade Jare Ajayi, said that the seven  days’ request tends to suggest that President Buhari, “Does not appreciate the enormity and the intensity of the pains Nigerians are going through all in attempts to obtain cash from their accounts in banks across the country”.

The organization argued that several lives have been lost already just as social and economic activities have been seriously paralyzed.

“For the nation to have to wait for another seven days is to say that the people can continue to go on suffering. That lives can continue to be lost and that businesses can continue to be crippled,” they said.

It would be recalled that President Buhari said that he will take a decision ‘one way or the other’ within the seven days that the new deadline for the currency exchange remains.

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According to his spokesman, Garba Shehu, Buhari said this after his meeting with members of the Progressive Governors Forum at the State House last Friday.

The governors had met the President to inform him of the excruciating pains Nigerians are going through in their attempts to withdraw money from the banks and exchange the outgoing Naira notes with new ones.

It would be recalled that the Central Bank of Nigeria last year in October, came up with redesigned notes for N1,000, N500 and N200,  stating that the deadline to replace the old notes with new ones was January 31, 2023. But by that time, millions of Nigerians have not been able to exchange their currencies.

Afenifere stated that the inability of the President to act quickly prompted the progressive governor to urge the President to, “Act fast because lives and economies of Nigerians are seriously in danger as a result of the difficulties in getting cash and fuel”.

The group noted that it took the president about six months to constitute its cabinet in his first term just as his administration seems to be   dilly-dallying where decisive steps are required.

The organisation further stated that the situation on ground presently, “calls for urgent, well-thought-out and pro-people steps so as to quickly put an end to the avoidable sufferings of the people.

“The outcry of Nigerians forced the CBN Governor Godwin Emefiele to obtain the permission of President Buhari last week Sunday, to extend the deadline to February 10, 2023. But even then, Nigerians have been finding it very difficult to obtain not just the new notes but even the old currency notes from their banks and sundry financial institutions that deal with cash. The situation became so critical that people in some cities in the country protested. The protest led to the death of at least two people in Ibadan.”

It noted that bank customers recount unpleasant experiences, saying,’’ An example was that of a customer who wanted to withdraw N40,000 but was told that the maximum he could withdraw was N4,000! CBN last week gave a ridiculous directive that no individual should withdraw more than N20,000 per day.

Afenifere said emotions of Nigerians predictably ran high due to frustration, pointing out that in places like Ibadan, Benin, Port Harcourt, Abuja, Bauchi, Lagos etc, there was tensions galore.