Nigerians React As Bundles of New Naira Notes Are Sprayed at Party in a Video While ATMs Run Dry

Nigerians React As Bundles of New Naira Notes Are Sprayed at Party in a Video While ATMs Run Dry

  • Nigerians have reacted to a video showing a bundle of new naira notes sprayed at a party
  • The video is coming at a time many Nigerians remain unsure of their fate after the January 31, 2023 deadline
  • The Central Bank of Nigeria has reaffirmed that the deadline for depositing old currency will not be extended

As many Nigerians continue to complain about the lack of redesigned naira notes, a viral video shows bundles of mint new naira notes being sprayed at a party.

The video has sparked concerns among Nigerians, who ask how someone could have so much when it has not been seen or spent by many.

According to a staff of one of the commercial banks who spoke with about the situation revealed that banks have what is known as high net worth customers, also known as priority customers or currency traders and this is done mostly by staff.

New naira notes
From January 31, 2023, the new naira notes will be the only recognized legal tender. Credit: @cbn
Source: UGC

She noted that the currency traders pay extra when withdrawing large amounts of the redesigned naira notes.

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CBN deadline day stands

Today, Saturday 28th January 2023 makes it two days before the old naira notes cease to become legal tender on Tuesday, January 31, 2023.

Despite pleas for an extension, Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) has insisted that commercial banks have enough naira notes.

He said that the policy is being pushed by the CBN to help it effectively drive monetary policy goals which have been largely undermined by the huge currency still outside the banking system.

Nigerians react

Eonardatokafor wrote:

"Our problems in this country are truly complicated. While Nigerians are complaining about nonavailability of the new Naira Notes in ATMs for withdrawals, see what is happening in this video.

"Was it Emefiele that gave this person these bundles 2 spray? We need to be serious please."

@adelekanadeoye2 also wrote:

"This is one of the reasons why the new naira notes are not in circulation. Selling of new notes is a big business in Nigerian banks."

Old notes: ATMs and other ways to swap your notes before January 31

Meanwhile, in another report, the CBN has revealed that it has a surplus of it in its vaults.

The CBN, during sensitization outings across the nation, urged the banks to come for the new notes ahead of its January 31, 2023 deadline.

The apex bank also vowed to penalize banks that continue to issue old naira notes or dispense the same through their Automated Machines.


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