Jumia, Shoprite, Others Join Growing List of Businesses Rejecting Old Naira Notes

Jumia, Shoprite, Others Join Growing List of Businesses Rejecting Old Naira Notes

  • More businesses and companies have issued notices to their customers and clients that they will no longer accept new naira notes
  • Jumia, the e-commerce company issued an in-app notice to its customers giving January 30 as the deadline
  • Others include supermarkets, eateries, petty traders, schools, among others

Jumia, the pan-African e-commerce firm has issued notice to its customers that it will no longer accept the old naira notes as payment during delivery starting from January 30, 2023.

The company said this via a notice to customers on its mobile app and emails, saying that the decision was based on the insistence of the Central Bank of Nigeria to end the circulation of old N200, N500 and N1,000 notes by January 31, 2023.

Old notes, Jumia, Shoprite, eateries
Godwin Emefiele, CBN governor Credit: ISSOUF SANOGO / Contributor
Source: Getty Images

Jumia joins the list

According to TheCable, Jumia stated that only the new naira notes will be accepted at the point of delivery and that customers could also explore other payment alternatives.

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Jumia said:

“From Monday 30th January 2023, Jumia delivery associates will not be able to accept the old notes of N200, N500, and N1,000 sequel to the directive by the Central Bank of Nigeria (CBN),” the statement reads.
“Should you wish to pay by cash, our delivery associates will only accept the new series of notes. Alternatively, you can find details here on how to prepay on Jumia using JumiaPay or call us on 01 888 1106 if there are any further questions.
“We will communicate further in case of any change from the federal government or central bank.”

Some supermarkets, eateries and petty traders reject old naira notes

Most of the supermarkets notified their customers via notices and text messages that they won’t accept the new naira notes few days before the deadline

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The Central Bank of Nigeria have commenced sensitisation of Nigerians about the new naira notes

Some supermarkets, eateries, petty traders and some market women have begun to reject the old naira notes ahead of the January 31, 2023 deadline set by the Central Bank of Nigeria for the cessation of circulation of old naira notes.

A popular clothing outfit, Ruff ‘n’ Tumble has informed its costumes via text messages that it will stop accepting the old naira notes two days before the deadline.

The text message reads:

“In accordance with the CBN directives, we will no longer accept old naira notes in our stores from 29th January 2023. Thank you for your understanding,” the message stated.

Also Spar Market, an Indian-owned supermarket chain in Nigeria has said beginning January 25, 2023, it will not allow its customers to pay using the old naira notes.

A notice pasted at the entrance of the supermarket at its Opebi outlet states that customers paying using the old naira notes have until January 25 or use their debit cards or via their QR codes.

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"Nigerians Have Enough Time": CBN Insists on January 31 Deadline to Return Old Notes

Also, Shoprite has issued notices to its customers that it will adhere strictly to the CBN deadline of January 31, 2023.

Market traders reject old notes

A visit to the popular markets across Nigeria shows that many market women and petty traders are fully aware of the CBN deadline and have started telling their customers that they will not accept the old naira notes at certain times in January, usually before the end of the month.

Some eateries and popular hangout spots across Lagos and in some parts of Nigeria have notified their customers and patrons that they will not accept the old naira notes few days before the deadline.

A popular eatery in Lagos, Chicken Republic has told its customers via notice boards that it will stop accepting the new naira notes five days to the deadline across its outlets in Nigeria.

CBN sends final message

In a message on its Twitter page, CBN advised Nigerians to return their old naira notes before the January 31, 2023 deadline.

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One week to deadline: Nigerians react as mutilated new naira notes enter into circulation

CBN said:

“You are once again advised to return them to your bank before the deadline.”

The bank has begun sensitising Nigerians on the new naira notes and telling them the features of the newly redesigned notes.

The bank said it is distributing the new naira notes via the banking system and said the new notes are amply available despite their scarcity via bank ATMs.

The bank said:

“We are distributing it through the banking system; the channel through which money is distributed and as transactions take place you will be having the new one.”

3 Days to go: Commercial banks issue notice on old naira notes

Legit.ng reported that more commercial banks in Nigeria have given what they say are their final thrust to Nigerians with old naira notes in their possession.

The banks, on Thursday, January 26, 2023, told the House of Representatives that they were bound by guidelines provided by the Central Bank of Nigeria (CBN) as the regulatory authority in the financial industry to stop collecting the old notes.

During a meeting with the ad-hoc committee members of the House set up to liaise with banks and CBN on the withdrawal of old notes, the banks stated that they get allocations of the new naira notes from the CBN and dispense the same amount to their customers via ATMs.

Source: Legit.ng

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