March 31, 2023

Old Naira Notes: Traders Want Make Buhari Address Di Nation


Long queues for Deposit Money Banks because of naira scarcity dey gradually disappear for some parts of di country amid fear by traders and customers to accept di old naira notes.

Plenty Abuja residents dey complain cash crunch 48 hours after di Central Bank of Nigeria’s (CBN) directive say make di old N200, N500 and N1,000 notes remain legal tender.

However, few of di commercial banks don continue to dispense di old notes at a limited volume.  Also most of dem peg di payment for N10,000 per customer via over-the-counter withdrawal while plenty others dey wait for supply from di CBN.

But di situation dey different for Abaji Area Council and Kwali Area Council of di FCT where customers and traders dey reject di old naira notes.

One customer, Bashir Aliyu, tell reporters say hin go bank hall to withdraw money but dem give am old naira notes of N1,000 denomination for di counter wey hin no gree collect because he no go fit spend am for rural markets.

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Another man explain say hin bin dey go Girinya Market to buy fish and other food items and di traders there no accept transfer talk of even giving dem di old naira notes. Hin tok say na why hin reject old notes wey bank give am.

Although he yarn say hin dey aware of CBN directive to banks but hin no go dey convinced until President Muhammadu Buhari come out to address Nigerians to accept di old notes.

A staff member of a bank yarn say bank bring out N500,000 in old notes to give to customers but say di majority of dem reject di money.

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