The National Association of Nigerian Students (NANS) has called on the Central Bank of Nigeria (CBN) to extend the deadline for exchanging old naira notes for the new notes from January 31 to July 2023.

NANS director of travel and exchange, Comrade Salawudeen Kamorudeen Alade, made the call in a press release he issued yesterday.

Alade said that CBN should be cautious in its proposed plan to stop accepting the old naira notes from January 31 this year and avoid any missteps that could undermine the confidence of Nigerian students in the financial system.

“In this period, we expect CBN to come up with better policies and plans that will curb inflation and have a positive impact on our economy. I join the Senate of the Federal Republic of Nigeria in demanding an extension of the expiration date of the old Naira notes to allow sufficient time for the circulation of the new Naira notes.

“The CBN should extend the expiry deadline for the old naira notes from 31 January 2023 to a later date in six months for efficient circulation of the new naira notes.

“I hereby call on the Federal Government and the Central Bank of Nigeria to review this step with immediate effect as Nigerians await a hybrid of strategic plans, reforms and policies that will have a positive impact on our economy,” he said.

He also stressed that as a country where citizens experience a high cost of living, it is imperative to state categorically that Nigeria’s economy right now needs to be reformed.

“The issuance of the new Naira note and its implementation at this difficult time by CBN is simply a misplaced priority and the implementation must be reviewed without delay,” he added.