Banks defy CBN, continue issuing old naira notes

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Banks defy CBN, continue issuing old naira notes
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Close to a month after new banknotes were released, millions of Nigerians are still struggling to have a feel of the currencies.

• In Benue, new notes treated as souvenirs• Apex bank kicks off sensitisation programme

Oluwayomi Adeyinka, an Access Bank customer at College Bus Stop, Isolo-Mushin Road, requested new N50,000 notes, yesterday, in exchange for the old. The cashier, however, told him he couldn’t have the new in that amount. Also narrating her experience, Mrs. Stella Sunday said she found it ridiculous to be paid N100,000 in old notes at a PoS stand in Jabi Market, Abuja. She explained that contrary to expectations, many Nigerians are yet to see or feel the new notes.

The CBN had directed that banks pay N200 and other lower denominations at ATM terminals as a matter of policy. That, however, seemed to have changed as the spokesperson of the apex bank said any denomination was acceptable.At counters, old notes were still being paid, leaving customers asking when banks would stop giving out notes that should no longer be legal tenders at the end of this month.

When The Guardian visited the Gboko branch of a second-generation bank yesterday morning, ATMs still issued old naira notes. Inside the bank, the situation was no different. Mr. Ikechukwu Victor, another customer, said the new notes ought to have flooded the country, becoming more visible than the old ones. He described the scarcity as unfortunate.

IN the ancient city of Kano, long queues took over the premises of the few banks that were paying out the new notes. Some bank customers who were interviewed said they were yet to see the new notes.

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