Redesigned naira notes, symbol of new Nigeria – CSOs

Date:

January 28, 2023.

Thank you for reading this post, don't forget to subscribe!

Azonuchechi Chukwu.

The Coalition of Civil Society Groups (CCSG), on Saturday said that the new redesigned naira notes are symbols of a new Nigeria.

The assertion was made in the popular Watt Market, Calabar, by Mrs Lilian Cosmas, Head CCSG, South-South Zone.

Cosmas who called on residents of Cross River to ensure that they visited their banks and swapped their old naira notes for the new ones before Jan. 31, said the policy would boost Nigeria’s economy.

“Nigerians in possession of old naira notes should go to the banks and swap their old notes to get the new notes which represents a new Nigeria.

“For politicians who have stocked old notes in their houses, it is time for them to go to their banks to swap the currency before the deadline of Jan. 31, after which the old notes will cease to be in use.

“In line with this, we have come to sensitise Nigerians in the South-South region, beginning with Cross River, and we will move to Akwa Ibom and continue until we get to Edo,” she said.

However, many residents in Calabar who spoke to Naija247news, frowned at the decision by the Central Bank of Nigeria (CBN) not to extend the old naira expiration date.

Mr. Bassey Ene, a trader in cosmetics products, who spoke bitterly, said the policy was not beneficial to the masses because a lot of them would lose their money if the date is not extended.

According to him, “how do you expect the people to get the new notes when as we speak, banks are still giving out old notes, there is so much queue of people looking for the new notes that are not available.

Miss Dorothy Dodo, a Point of Sale (POS) operator, said she had so much old notes from her customers but could not change them because either the banks are hoarding the new notes or they are not available.

“I went to my bank’s Automated Teller Machines (ATM) but got only N4,000, that was all I could withdraw daily because they want the new notes to go round, what can I do with N4,000?” she said.

Similarly, Naija247news reports that POS operators who had the new notes were engaging in brisk businesses.

As at the time of this report, to change old notes to the new notes at a POS point, the operators were charging as much as N400 for N10,000 while transaction for old naira notes remains the same.

Some of them said they had to fix the price for exchange of new notes because getting the new notes from banks was difficult.

They added that they had to pull some strings and as businessmen, they had to add it to the cost.

Also, Naija247news reports that most commercial banks in Calabar were open and receiving the old naira notes at the counter. (www.naija247news.com)

Azonuchechi Chukwu
Azonuchechi Chukwuhttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

Share post:

Subscribe

Popular

More like this
Related

Kaduna Governor Advocates for State Police Amidst Banditry Challenges

Kaduna State Governor, Uba Sani, emphasized the urgent need...

EFCC Retrieves 324 Houses for Kano Pensioners in Alleged N4.1 Billion Property Fraud

Yesterday, the Economic and Financial Crimes Commission (EFCC) handed...

“More CBN Directors Face Dismissal Amidst Controversy”

Twelve additional directors of the Central Bank of Nigeria...

NNPCL’s Kyari to Feature Prominently at 2024 CERAWeek Conference

Mr. Mele Kyari, the Group Chief Executive Officer of...

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading