Banknote crises: Shoprite, and others don start to reject old notes
Against di backdrop of confusion over di execution of di Supreme Court order to stand down di deadline for acceptance of old Naira banknote, Nigeria leading retailer, Shoprite, don start to reject di old notes as payment for purchases for dia shops.
Staff for di Shoprite Ikeja Mall, wey confirm this development yarn say di management don instruct dem say make dem no accept di old notes from Friday (February 10, 2023). Also, di management yarn say any staff wey accept di old notes go pay di amount wey dem collect with dia salary.
In addition to that update, some major supermarkets for Lagos don start to dey reject di old banknotes despite di Supreme Court order.
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Meanwhile, banks fit don peg weekly cash supply to N1.5m per branch as scarcity of di new banknotes still continue.
As di official deadline by di CBN to submit old Naira notes end last Friday without any information from di apex bank on di court order wey vacate di deadline, di black market exchange for local currency increase as more banks’ branches close shop because new notes no dey. On top di matter, dem dey fear disruption of activities by unsatisfied customers wey no see cash to withdraw.
Bank customers wey bin deposit dia old Naira notes to meet di deadline for submission dey regret dia actions now as dem no fit get both new and old notes from banks.
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