Thirteen of the 18 political parties, that have been registered to participate in the 2023 general elections, have threatened to withdraw if the Central Bank of Nigeria (CBN) extends the deadline for Nigeria’s Naira swap.
The threat issued in a statement by the National Chairman of the Action Alliance (AA), Kenneth Udeze on Monday, said the threat was necessary in the event that the CBN planned to bow to pressure and extended the February 10 deadline. The political parties noted that the N200, N500, and N1,000 banknotes redesign is laudable and urged that the policy must remain in place.
“We hereby announce that at least 13 out of the 18 political parties in Nigeria will not be interested in the 2023 general elections and indeed we shall withdraw our participation from the electoral process if this currency policies are suspended or cancelled or if the deadline is further shifted,” Udeze stated.
The CBN has maintained that it would not extend the deadline for the use of old naira notes.
During a press briefing in Lagos on Friday, the governor of the CBN, Godwin Emefiele, said the CBN, as well as deposit money banks (DMBs) were working to address the current challenges with the circulation of the new currency notes.
“I want to say unfortunately again, this time, we will not be looking at extension of deadline because we are the central bank and the deposit money banks are doing everything to address the challenges.”
