Miyetti Allah Asks CBN For Favour Ahead Of New Naira Notes Launch

Fulani socio-cultural group, Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), has asked the Central Bank of Nigeria (CBN) for a favour ahead of the newly redesigned Naira notes launch.

Recall that the apex bank had announced weeks ago that it would begin circulation of redesigned currencies on December 15, 2022.

Though the development was met with a series of debates, President Muhammadu Buhari consented to it, and the bank has since heightened preparation for the new Naira note launch.

However, in a statement handed down to newsmen in Akwa, Anambra State capital, MACBAN said it could not fight or reverse the government policy as law-abiding citizens of the country, but they are pleading that the CBN should extend the deadline for another three months to enable its people to deposit the old notes at the bank.

The Awka chapter of the Fulani-socio cultural group said the extension of the deadline will allow its leadership to reach out properly to those living in out-of-communication areas across states of the federation, so they could deposit their current currencies in the banks.

MACBAN leader in the South-East, Gidado Siddiki, said yesterday in Awka, that due to the nature of their grazing business, those in the bushes may find it difficult to beat the deadline, but that an extension will afford them a little more time to bring out their savings for proper transformation to redesigned naira notes to avoid huge losses.

While expressing their full support for the new policy, Siddiki recalled that when a similar policy was announced in 1985, many of his members who were in their grazing settlements in the rural areas across the country lost their money because of the impromptu nature of the execution of the policy.

He said: “The cattle breeders could not meet up with the time frame given then by the apex bank as the two weeks given was not enough for them to meet up.

“As a result, most of the herders lost their life savings because many of them do not have bank accounts and therefore do not keep their money in the banks. Their usual practice is to keep and protect their money wherever they are.

“We cannot fight or reverse the government policy as law-abiding citizens of Nigeria, but we are only appealing to the CBN to help us extend the deadline for another three months to enable the leadership of Miyetti Allah to reach out properly to those living in out-of -communication areas across states of the federation.”