Following widespread confusion and frustration over inability to access the new naira notes recently injected into the economy by the Central Bank of Nigeria
While noting that the poorest section of society was facing hardship as they often keep hard cash at home for various expenses, President Buhari gave strong assurances that the government would not leave them to their own fate.
The forum said; “As the deadline for the exchange expires this Tuesday, we are afraid that majority of our people in the rural areas are unable to change their old currencies for new ones, this is because even in the urban centers, the new notes are scarce. “Persons who lose their wealth through uncoordinated government policy or actions are likely to assume they have been let down by the said government.
NBA president, Yakubu Maikyau yesterday in a letter to the CBN Governor Godwin Emefiele, according to a statement by the NBA’s national publicity secretary, Akorede Lawal, expressed concern about the fate of Nigerians with the old currency beyond the deadline, saying, “The law is clear on this issue.”
A drama ensued when a fish seller dragged her customer because he did not pay her with the new naira notes. The seller, Blessing, pounced on the customer after he consumed a roasted catfish. At Keystone Bank along Murtala Mohammed Highway Calabar, a bank customer, Akan Umontah, said it would be difficult for her to cook a weekend soup for the family.
“I will continue receiving old naira notes till around 3pm on Monday knowing fully well that the CBN announced deadline is Tuesday, January 31”.“I don’t want to go through the stress of going to the bank to deposit the old naira notes where crowds will be to do same thing. To even withstand the deadline day rush is another thing entirely,” he said.
In Osogbo, 90 percent of POS operators have about 80 percent of available currency for transactions in old notes while commercial drivers have more than 70 percent available cash at hand in old notes. She said the few banks within the state capital stopped paying through the ATM, making it difficult for people to access money for their immediate needs.Bank customers in Oyo State have threatened to shut down and destroy any bank which refuses to collect old naira notes after the deadline .
Some traders warned that if the government is not careful, there would be violence and anarchy after the January 31 deadline. Point of Sale operators and transporters in Rivers State are still accepting old naira notes in parts of Rivers State.
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