.. Miyetti Allah Appeals For Extension Of Deadline

The South East zone of the Miyetti Allah Cattle Breeders Association of Nigeria (MCBAN) has appealed to the Central Bank of Nigeria (CBN), to extend the deadline for the withdrawal of the nation’s currencies selected for redesignation from circulation.

The CBN announced December 15, 2022 as the deadline for use of the three highest Naira denominations: N200, N500 and

N1,000 notes as legal tender.

But chairman of the MACBAN in the South East zone, Alhaji Gidado Sidikki has appealed to the CBN to extend the deadline by three months to enable his members enough time to withdraw their money from circulation.

Sidikki argued that the majority of his members live in forest and bushes where their cattle grazing brings businesses and that by the nature of their occupation they keep large amounts of their money with them.

He stated that when a similar policy was implemented in 1985, so many of their people that were in their grazing settlements at the rural areas across the country lost their money because they did not have enough time to comply.

He said, “They (MACBAN members) 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 do not have (bank) account numbers; they do not keep their money in the bank. 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 the states of the federation.”