Posted by Residents of Kaduna have expressed their concerns and dissatisfaction about the lack of new naira notes, with many arguing that the public should be aware of the new money to protect themselves from counterfeit notes as the New Year approached.
As previously reported by kuryaloaded the Central Bank of Nigeria (CBN) released the new banknotes on December 15, 2022, as part of efforts to combat corruption, curb inflation, and seize money that was being laundered outside of the banking system.
However, the bulk of Nigerians, particularly those in isolated communities, have yet to see the new notes, let alone use them for transactions, 17 days after the Central Bank of Nigeria (CBN) released the revised N200, N500, and N1,000 banknotes.
Gladys Musa, a merchant and mother of two, stated that she anticipates seeing the new naira notes as she enters the bank’s Automated Teller Machine, or ATM, to make a withdrawal. She was shocked to see that the old cash had come out of the machine.
Businessman and managing director of Yusuf Ventures Ltd. Alhaji Ibrahim Yusuf expressed unhappiness with the development as well.
He stated, “I expect the new money to be available in mass so that we may present them to our consumers. Customers are even terrified of transacting business because they dread being given old notes that will soon be out of date.
A few weeks before the presidential elections, Alhaji Mustapha Mohammed, a lawmaker and PDP leader in Kagarko LGA, also voiced concerns about the shortage of fresh naira notes.
He claimed that if the shortage persisted, it would have an impact on some lawmakers because they wouldn’t have the resources to pay for travel and other other charges.
He added that it is crucial to educate individuals in inner communities to prevent additional embarrassment, claiming that residents of several isolated villages throughout the state have begun rejecting outdated currencies.