Some resident of Abuja and the surrounding area have bemoaned the lack of new naira notes.
The old 200, 500, and 1000 naira notes have been reinstated by the Central Bank of Nigeria (CBN) and will continue to be valid until December 31.
Residents are complaining about the lack of fresh notes, according to newsmen who were tracking their availability.
Mr. Moses Nnegedu, a resident of Nyanya, said that the CBN would supervise the commercial banks if it were serious about achieving its aim of distributing the new naira currency before the deadline.
‘’The new notes hasn’t been used in two weeks, therefore it’s actually not accessible.
‘’It seems that people are hoarding the new notes.
In order to prevent another cash shortage, he added, there needs be political determination to guarantee that the new notes are circulated before they expire.
The deadline of December 31 won’t likely be apparent, according to Mr. Gabriel Daniel, a resident of Garki, as only the previous notes are now accessible.
‘’ Since even banks are issuing old notes at the ATMs and in the banking area, I can’t recall the last time I saw or used new ones.
‘’One of the issues we have in our nation is the failure of leaders to hold them accountable for failing to put policies into practice.
The few new ones vanished as soon as it was announced that both notes should be considered legal money, he added. “At this point, I am just confused.”
Mr. Abbah Moses, a local of Gwagwalada, claims that individuals who are wealthy and have access to the new notes early are storing their money in preparation for the deadline in December.
Therefore, there won’t be enough money in circulation even if the banks issue more notes and someone hoards them.
‘’I’ve seen only one brand-new N500 note in the last week.
He remarked, “The situation might be worse than what we went through earlier this year.”
Manasseh Gimba, a Dutse native, claimed to have last seen the new note one month ago.
“CBN should produce more new notes and make sure they are in use.”
‘’If the December deadline would be apparent, he advised limiting the use of outdated notes.
According to Chronicle NG, the Supreme Court already extended the expiration date of the old naira notes till December 31.
Nigerians, however, think that the recently released notes, which were difficult to get when they were first released, have progressively disappeared.
