Naira Swap: Alake, Awujale Commend CBN On Deadline Extension

Naira Swap: Alake, Awujale Commend CBN On Deadline Extension

By Kolawole Olayinka, Abeokuta

The Alake and Paramount ruler of Egbaland, Oba (Dr.) Adedotun Gbadebo, has commended the Central Bank of Nigeria (CBN) for putting the plights of ordinary Nigerians into perspective by extending the deadline for the swapping of the old Naira notes with the newly redesigned ones.

Oba Adedotun also promised to educate and enlighten his people, particularly the rural dwellers to embrace the cash-less economy being advocated by the CBN, emphasising that such remained “the best for them”.

The monarch spoke when he received the team of the Central Bank of Nigeria (CBN) comprising officials of the apex bank from Abuja, Lagos and Ogun State.

The team led the branch controller, Ogun State, Alhaji Wahab Lanre Oseni, was in the Palace on Wednesday in respect of the on-going nationwide sensitization programme on the newly redesigned Naira notes.

The Alake, however, advised the CBN to first weigh in the feelings of Nigerians next time before embarking on any financial policy, warning that any policy that is not people friendly won’t succeed.

The revered traditional ruler who was apparently reacting to the current bitting hardships in the land over naira swap, said it was the “worst thing” to be thrown at people who were already burdened with the pains of collecting Personal Voter’s Card(PVC) and running around for scarce fuel.

“We always pray for your success because your success is our success too. We are not happy about the devaluation of the naira particularly in the last few years. We are not happy at all. Then the worst thing was this currency exchange that we are doing and you insisted that you’re not going to change the date.

“Election is coming and there’s problem of fuel; problem of obtaining our PVCs, then we add the currency swapping  burden to it in which people were unable to spend money.

“We don’t want to be carrying cash around, cashless policy is what we want. Consider us as your friends and we will tell all our people. What you are doing is in their own interests too,” Alake said.

Speaking earlier at the Alake’s palace, Oseni said the apex bank was of the strong conviction that the task of sensitising Ogun residents would not be complete without carrying along, the traditional institution because of their closeness to the people at the grassroot.

“The traditional institution will always help us because you at the grassroots can help us talk to our people generally and that’s why the exercise can never be complete without visiting the palaces,” Oseni said.

The team also visited the Awujale of Ijebuland, Oba Sikiru Adetona who also assured of his support to team’s efforts at making Nigerians to embrace the emerging less cash society.