MIYETTI Allah Cattle Breeders Association of Nigeria (MACBAN) has become jittery over the new redesign of Naira notes and has therefore called for extension of time for evacuation of cash from the forest to the banks.
MACBAN appealed to the Central Bank of Nigeria (CBN) to extend the deadline for the collection of the current N200, N500 and N1000 notes which would soon be phased out.
New notes for the denominations would be in circulation from December 15 and would no longer be used after January 31, 2023.
Chairman of the group in South East, Alhaji Gidado Siddiki, told newsmen in Awka, Anambra State, that members of the group would need about three more months to be able to evacuate all their money stashed in various forests and bushes across the country.
“Why we are appealing is that in 1985, when a similar policy was announced, so many of our people that were in their grazing settlements at the rural areas across the country lost their money because of the prompt information.
“They could not meet up with the timeframe given by the apex bank. The two weeks given then was not enough for them to meet up and the majority of the herders lost their long time savings because many of the herders did not have account numbers, did not keep their money in the bank.
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They keep and protect their money locally. We cannot fight or reverse government policies as law abiding citizens of Nigeria. We are only appealing to the CBN to help us extend the deadline for another three months, so as to enable the leadership of Miyetti Allah reach out properly to those living in out-of-telecommunication areas across states of the federation,” Siddiki said.
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