Naira Scarcity: Nigerians beg CBN, banks to dispense N100, N50 notes

Nigerians have called on the Central Bank of Nigeria to prevail on commercial banks to dispense N100 and N50 notes to Nigerians.Information Guide Nigeria

According to PEOPLES GAZETTE reports that they made the call in separate interviews on Thursday in Lagos.

An accountant, identified as Benedict Chukwuweike said dispensing the N100 and N50 notes would help solve the immediate challenges faced by Nigerians.

He said that in countries like the United States, the highest denomination in circulation is $100.

Chukwuweike advised Nigerians to imitate the U.S. as issuing more N500, N1,000 banknotes becomes a problem.

An unemployed youth, Lawson revealed that she boarded a bus on Wednesday using N100 and N50 notes.

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Another source, Eniola Gbadamosi, a teacher, said, “I started gathering the N100 and N50 notes since January when the heat of the January 31 deadline enveloped the nation,” stated Ms Gbadamosi. “Little did I know then that the crunch would degenerate into what it is now. Today, my N100 and N50 notes have been very useful.”NYSC portal

Judith Chukwukadibia, a lawyer, said: “So, what I quickly did was to change my money into N50 notes which I sent to my parents in the village. The aim was to avoid (the) pressure my parents would go through. I didn’t want them to be stranded,” Ms Chukwukadibia explained. “I am happy that the step has proved very helpful. I even did (the) same to myself and have been very comfortable since the naira crunch started.”

Meanwhile, in a nationwide broadcast on Thursday, President Buhari has said old N200 notes remain legal tender until April 10.JAMB Result

(NAN)

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