17 Days After Release: Scarcity Of New Naira Notes Worries Nigerians

[Davidvictorson]

This is the message I received from CBN today. I guess they are not aware that some banks still go ahead to put the old currency notes in their ATM. The Nigerian in me is thinking that may there is a plot among some of these bankers to take advantage of the situation. What do I mean? They'll keep putting the old naira notes knowing that at the deadline most Nigerians will rush to the banks and will want to change the notes for new ones immediately. At this point, they'll start to charge people money so they can get in and do exchange.  It is the "Nigerianness" in me thinking so.

[CryptSafe]

This is the message I received from CBN today. I guess they are not aware that some banks still go ahead to put the old currency notes in their ATM. The Nigerian in me is thinking that may there is a plot among some of these bankers to take advantage of the situation. What do I mean? They'll keep putting the old naira notes knowing that at the deadline most Nigerians will rush to the banks and will want to change the notes for new ones immediately. At this point, they'll start to charge people money so they can get in and do exchange.  It is the "Nigerianness" in me thinking so.

I do do not doubt your logic. This is the normal Nigerian mentality. Monetization of every activities they got involved in. I believe this as you have said is the plans of the bankers so that when the deadline is fast approaching, they start extortion from account holders so as to facilitate the changing process so they could get something from them. This is very bad. I suppose they should have known that they should be withdrawing more of the old  notes in circulation by now and also releasing the new note through the ATM Machine across the nation the same financial institutions are saying they do not have the new notes so there they are still issuing the old notes to customers which is very bad. This alone shows that the financial institution do not know what they even signed up for and they are not really ready to implement the cashless policy they are campaigning for.

[Dr.Bitcoin_Strange]

 This meme describes the scarcity of both the old and new Nigerian naira notes. Have you got any left? 🥱🥱😜

[Aliosky]

I heard a news concerning that from a reliable source that CBN have stopped issuing the new naira notes to banks, since the first disbursement they haven’t done any again to any bank. Some reasons been that they want everything to be cashless policy and we should stop using naira notes again.

This is confusing, everyone has a different story reagarding this money issue. This one you are saying they want us to stop using naira notes and want to operate cashless policy so how do they expect people from local villages spend money when they barley go to school to understand figures, how do we give our little children money for breakfast when they are going to school, it’s going to be difficult and alot of people will suffer if that’s really their intention.

[Marykeller]

Make we no d surprise if CBN extend this deadline again. How you go make old naira notes illegal tender on 10th Feb. without mapping out better strategy of the easy accessibility and availability of the new naira notes to the general public.

As I take the see all this kind thing wey d happen for the country, the old and the new naira notes go still d circulation for the country

I heard a news concerning that from a reliable source that CBN have stopped issuing the new naira notes to banks, since the first disbursement they haven’t done any again to any bank. Some reasons been that they want everything to be cashless policy and we should stop using naira notes again.

Having a cashless d good but how fast and reliable can we go with it? Nigeria don grow to that level since but because of how poor our banking system d, na why people no d fancy  the use of cashless method because em go disappoint you when you no expect. I know of how many times wey I don get a failed transaction for cashless payment. Last week, I did a transfer to someone, I was debited of the money, while d peso never receive d money up till today. Is that how a cashless payment suppose to work? I sae make I ask cos this country get as em be. Other countries go fit the run things on a high notes for their country, but for our country things d get k-leg wey go leave you confused and frustrated