The unavailability of new naira notes continues to bite hard amongst traders in Minna market .
Niger state governor Abubakar Sani Bello visited the Minna modern market to interact with the traders, he affirmed that the naira redesign policy is good initiative but lacks a proper execution plan
Ever since the naira redesign policy was brought into effect there’s been a huge outcry on the policy but for buyers and sellers due to the unavailability of newly redesigned N200, N500, and N1,000 currency notes.
In spite of the supreme court’s ruling ordering Nigeria’s apex bank to continue to accept the old naira note as a legal tender, Nigerians no longer accept the monies for transaction because commercial banks have refused to collect it as well.
Read Also
- Peter Rufai: 10 things to know about Nigeria's Iconic ‘Dodo Mayana’
- South West, South East hold zonal Public Hearings on 1999 Constitution Review
- Court finds Senator Natasha Akpoti-Uduaghan guilty of Contempt of Court
- You are welcome back home" - Sanusi Says, as APC Welcomes Ogundele, Akinlade, others
This has caused a major challenge for buyers and sellers.
Niger state governor Abubakar Sani Bello took a tour round the Minna central market to assess the impact of the policy in businesses.
The governor acknowledged that the naira redesign was a welcome development, but disclosed that the CBN needed to give a long time to allow the old notes in circulation before it eventually fades out.
If traders in the state especially in Minna cannot get access to money even with the concentration of banks, the situation is far worse for traders in rural areas dealing in agricultural produce.
