The Rejection Of The Old Naira Notes In The Market || My Experience
The issue of redesigning naira notes has been ongoing for a while now in Nigeria. Many Nigerians didn't like this idea, we believe that there are more other pressing issues to deal with other than redesigning notes but the Central Bank of Nigeria (CBN) aren't ready to make a U-turn with the redesigning policy and so we have to dance to their tune to carry on with the buying and selling to survive.
For the past 3 days, I have been receiving calls from my relatives in other states here in Nigeria asking if I have deposited any cash I have in the bank in exchange for the new money. They expressed their worries over the lack of circulation of the new money and how traders do not want to accept the old note in exchange for goods. I didn't understand their plight until I went to the market yesterday to restock the foodstuffs at home. It was so frustrating in the market. The CBN has given Nigerians a deadline of 31st January 2023 to deposit all old notes and switch to the new notes but the new notes are nowhere to be found. Traders are really scared of collecting the old notes even before the deadline likewise the public drivers for transportation.
It's the weekend, and the government authorized the banks to work to accept the deposit of old notes from people but there are just a few new notes in circulation. I tried visiting the bank first to get the new Note but it wasn't available. Imagine, making rules without adequate preparations. I didn't have an option but to use the POS to withdraw the old notes for my shopping 🛒.
The shopping took me longer than expected because many traders kept rejecting the old notes especially when I saw something nice to buy. It was frustrating yesterday but I was in ultimate search of sellers that can still accept the old notes, I succeeded but spent much time in the market.
Right now, I have no cash with me, I exhausted all I withdrew to avoid having useless cash. I really hope that from 1st February, the new notes can be in higher circulation to enable people to carry out their exchanges in peace. For now, I can only be doing transfer for any item I want to buy.
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Ha! Can be really frustrating, sorry about the stress, I still maintain, this deadline will be shifted they have no choice, the masses should use their power instead of dancing to the tune of the government irrational ruling.
My dear, I am also optimistic about the shifting of the deadline if not many people will lose their precious money
Thanks for stopping by 👍🤗🥰
The deadline will most likely be shifted, most likely
I really hope so cos it's needed
Loool so you exhausted all you have at hand? Hahaha, well I still have about 2000 with me. I went to buy gas yesterday and the mumu man wouldn't even collect the money from me.
Hahaha 🤣🤣🤣
Who be that mumu man 😂
They no dey listen to the news nah
Instead of them to collect the money and deposit tomorrow, dey go dey lose customers unnecessarily 🤣😂
Some people are just unnecessarily uneducated and uniformed about proceedings in Nigeria, they feel they not be able to deposit it again.
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I acknowledged that news earlier but I think the government should make a preparation before announcing anything. I don't blame those sellers who are not accepting old notes because they are afraid of thinking that they are unable to exchange those notes.
Exactly.... everyone wants to be on a safer hands. Btw, I just read on the news about the extension of deadline
I am quiet sure that they will be a breaking news about it in first January. So wait for it. 😅
Aiit ✅✅
Lol so sorry about your ordeal. The painful part is, banks and even pos attendant still issue out old note..
The old note is not in circulation yet, but the stress someone is going through is already unbearable..
Yesterday at work, I couldn't get to buy food because the woman refused taking the old note, that's how I starved the whole day😔😔
Chaiii...so my Redna stayed hungry all because of this old note 😂😂
Sorry love
🤣🤣🤣🤣🤣.. Thank you so much ma'am. Your so loveable 😊
You too my darling 🥰😂👍
🤭🤗🤗
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Thank you buzzy 👍
You are welcome @nkemakonam89, that's with pleasure! We wish you a happy buzzy week 😊👍🐝
It's not easy o. I was going to rant about this but you beat me to it.
Are the insane POS charges not going on over there???
Here in Enugu state, Nsukka, to withdraw 1,000 naira via POS is 150 naira. If you're withdrawing 10,000 then it's 1,000 naira for the charge. It's so frustrating.
This is the most fucked up situation I've found myself in recently. But what can I say? God will help us.
The remedy is to vote for a better governance. I hope Nigerians vote wisely and I hope he who we'll vote for won't fail us. It's so sad.
Wowww
Didi, you are from nsukka? I am from nsukka too...Orba to be precise 🤗
Nne feel free to rant about it..lol
I just got to hear today how POS people are cashing out because this new money palava..
I have my PVC.preach it my darling
New and better government please 😂
This is good to know 😊 but I'm not from Nsukka. I only live here because I'm a student of University of Nigeria. I am from AkwaIbom state. 😊
Awwwwwn 🥰
The lioness 💞👍🥳✅🔥🔥🔥🔥
The stress is much o...
I couldn't get any cash I went to the POS and I saw the brother of the guy I used to withdraw money from I asked him for some cash but he refuse he said there is no cash I tried but he was been reluctant so I thought within myself he doesn't want to give me any I was there wen my course mate came there and told me loveth there is no cash anywhere I was surprised, I never knew that was the new development in Nigeria. I have to be using transfer to buy things, is not easy I must say...I pray things get better soon.
Hahaha 😂😂
We are in new Nigerian
Cashless policy
Brace up baby 😃👍