New Naira: Note Shortage Takes Toll on Nigerians

As the deadline to phase out old naira notes inches draws closer, the new banknotes’ shortage across the country takes its toll on Nigerians.Information Guide Nigeria

The Speaker of the House of Representatives, Femi Gbajabiamila has threatened to issue an arrest warrant on the Governor of CBN, Godwin Emefiele over his refusal to honour the House Committee’s invitation.

DAILY POST reports that commercial banks on Thursday were forced to shut down their ATMs over a shortage of the new banknotes in major cities Abuja, Warri, Lagos, and Benin.

According to DAILY POST found that ATMs in the Central Business District, CBD, Kubwa, Gwarimpa, and Utako areas in Abuja were not dispensing cash.

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Israel Kona, a resident of Lekki said:

“Most Banks’ ATMs have been shut down due to the high demand for cash, so I had to make an over-the-counter withdrawal to get cash, but it was the old naira notes,” he said.JAMB portal

Simon Oluwa, a trader in Warri, said he could not buy anything at the market on Udu road because he did not have the new notes.

Point of Sale, POS agents have suddenly stopped collecting the old currencies over the difficulty of getting the new naira notes.NYSC portal

“It is tiring, the situation Nigerians face daily; some businesses at Udu road have started rejecting the old notes, even POS operators”, he said.

Mr Olawale Ayodele, a resident of Ogun State added, “I went round Ota till yesterday night (Thursday) looking for cash at the ATMs around this area but could not get. Honestly, the stress is not worth it. I cannot withdraw my own money again?”.

Also speaking, Emeka Michael, a lawyer in Abuja, disclosed, “The situation is terrible, to say the least; I had to go several places within the CBD but could not see any ATM dispensing cash. Honestly, ‘wahala’ plenty for this country”.JAMB Result

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