Deadline for the naira note, on Sunday 29th January the central bank of Nigeria governor, Godwin Emefiele came out to make a new announcement regards the deposit of the old naira note.
He stated the CBN has decided to extend the date of deposit of the old note and encouraged Nigerians to use the opportunity to deposit their old naira note in the bank.
Before the announcement from the CBN, Nigerians have already started finding it difficult to access money to use for their basic needs. Market women and other service providers have stopped collecting the old Naira note so it’s hard to access the New naira note.
The current old naira note in circulation is held by a few people while POS vendors now overcharge customers who need quick cash.
Epic vibesng moved around the city of Benin to see what was happening and our discovery was shocking as people were seen selling the old Nigerian Naira note. A filling station manager said he had made 500 thousand Naira already from the sales of the old Naira note.
According to him, people that run a POS business come to ask him for money and they pay a certain amount to him before they make the transfer to the company’s bank account while he gives the Naira in return.
He further stressed that there was a scarcity of fuel in Nigeria and this made them triple their fuel price. The cash at hand was too much so he started calling POS vendors to buy their cash which has so far put a smile on his face.