APC PCC SAYS TO EXTEND THE CASH SWAP DATE BY A YEAR.

President Muhammadu Buhari has been urged to enable the old and new notes to function as legal tender for at least a year, according to the Agro Commodities Directorate of the All Progressives Congress Presidential Campaign Council (APC PCC).
The directorate claimed the extension will help the bulk of farmers in rural areas who are unlikely to have bank accounts, who are likely experiencing rising difficulties as a result of naira scarcity.

Farmers are the ones most negatively impacted by the new monetary policy, according to a statement released in Abuja on Thursday and co-signed by the director and secretary of the directorate, Alhaji Abubakar Udulu Bello and Comrade Retson Tedheke.

The campaign council claimed the naira redesign strategy “is killing the fortune of farmers in rural Nigeria” and urged Buhari to keep using the old naira notes for at least one more year.

The directorate encourages President Muhammadu Buhari to keep the old Naira notes in circulation for at least another year, according to a portion of the statement.

“Far below the cost of production, producers in rural farming areas are compelled to sell their food as a result of a lack of new notes. The Buhari Agriculture Revolution has provided farmers affluence, but this has a tendency to undermine all of that, according to the PCC.

The event also portends a threat to the nation’s food security, the statement warned.

Farmers won’t be able to repay their investments “after they are compelled to sell at a loss due to new currency constraints,” according to the PCC. Alternately, by the time of the following planting season, they won’t be at their farms.

We are pleading with President Muhammadu Buhari to instruct the CBN to permit the old and new notes to be in circulation for at least a year as we gradually remove the old notes from circulation once they reach the banks in light of this.

The campaign committee urged the CBN to develop a system for rural banking that will support cashless transactions in those areas.

The initiative of Tinubu’s rural agricultural hub, which it said would make rural Nigeria bankable, productive, and developed, was praised by the directorate.

The party’s presidential candidate has been reassured by the directors that farmers support him and are prepared to ensure his victory on February 25.