New Naira Notes: Banks Complain of Inadequate Supply as Customers Go Home Disappointed
- The recently redesigned naira notes have officially begun circulation on Thursday
- A lot of customers who went to various banks expressed disappointment as they could not access the new notes
- The banks complained of inadequate supply from the Central Bank of Nigeria
On Thursday, December 15, 2022, the new naira notes officially went into circulation as the Central Bank of Nigeria (CBN) makes good on its promise of introducing the new banknotes.
Many Nigerians rushed to the various banks in the country with the hopes of cashing the new notes but were largely disappointed.'
Source: UGC
Mixed notes, mixed reactions
Despite the mixed reactions that trailed the new notes, many banks complained of an inadequate supply.
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CBN governor, Godwin Emefiele, had on October 26, 2022, announced that the bank would redesign the N200, N500, and N1,000 notes while saying the old notes would cease to be legal tender by January next year.
The Punch reported that the CBN boss said the bank took the steps to rein excess cash and curb inflation, insecurity, currency counterfeiting and other economic issues in the country.
Bank customers in some of the banks visited in Lagos complained that they were disappointed for not getting their hands on the new naira notes as most of the banks either say they have run out of supplies or did not receive them at all.
Some of the bank officials also stated that they did not receive the new notes from their head offices and are not aware if CBN actually allotted the new notes to them.
ATM machines also continue to dispense old naira notes while customers deposit old notes. Cashiers also paid out more of the old notes to bank customers.
No sight of the new notes
At some of the banks, bank staff mixed the new notes with the old ones while some customers snubbed the new notes entirely.
Outside, Lagos banks said they are yet to receive the new notes and continue to issue the old ones while PoS operators say they went to the bank to see if they can cash the new ones but could not.
Chidibere, one of the PoS operators in Owerri, the Imo State capital, said he went to the bank as early as 8. am in hopes of getting the new notes but couldn’t until he left around 12 noon.
He stated that the banks said they have not received the new naira notes.
Bus conductor rejects new N1,000 naira notes from passenger, video goes viral
Legit.ng reported that a video showing a bus operator in Lagos rejecting a freshly styled naira note from a female passenger has gone viral.
On Thursday, December 15, the lady boarded a commercial bus to work and paid the conductor with the new N1,000 note, but he refused to accept it.
The conductor, fearful of being duped, stated that he cannot collect the money since he is unfamiliar with it.
Source: Legit.ng
