The Ondo State Chambers of Commerce, Industry, Mines and Agriculture, ONDOCCIMA, has cried out over the sufferings imposed on the people of the state by the new Naira policy.
ONDOCCIMA, in a press statement by its spokesman, Adeboro Onibalusi, said the government policy has crumbled MSMEs activities in Ondo State, lamenting that access to both old and new money notes has become difficult for business operations in the state.
“Money is not accessible to members at banks and POS across the state,” the statement read in part.
ONDOCCIMA calls on the government to, as a matter of urgency, extend the terminal date for the use of the old currency to at least three more months.
“We urge that the government make a gradual move towards e-transaction instead of this abrupt and sudden change which has brought suffering on the common man.
“The new currency should be made available at over the counter transactions in banks, ATMs and POS.
“The old and new currency should be accepted as legal tenders side by side for the next three months.”
However, ONDOCCIMA commended the government and the CBN for the beautiful innovation of including tracking numbers on the new notes, which it says will go a long way in curbing kidnapping, terrorism financing and money laundering.
IT may be recalled that the CBN Bankers Committee meeting last Tuesday Godwin Emefiele, had instructed that deposit money banks to desist from paying old notes via their ATMs or in bank branches over the counter just as he outlawed payment over the counter.
However, ONDOCCIMA described the CBN’s guidelines as draconian and anti-people.
According to the body, six of the seven guidelines by the apex bank are designed to kill small businesses and the common man.
“If you go through the guidelines, you’ll realise that they are designed against the common man and small business owners,” the group said, even as it lamented that “Businesses like POS operators are already going out of business because they cannot access enough cash to run their businesses, it is the same for the people. They can no longer access the cash to run their businesses. The people are getting frustrated by this policy.
“It is not surprising that poor market women and artisans who were fed up with the sufferings inflicted on them by the CBN policy trooped onto the streets of Akure on Tuesday in protest and vowing not to participate in the election. It will be a shame if that happens,” ONDOCCIMA said.