Redesigned Naira Notes: Yenagoa Residents Lament Attitude of Traders

Report by Gracious Freeman – Many residents of Yenagoa the Bayelsa State capital have shared their opinion on the use of the redesigned naira notes and the old ones which has been a source of confusion for a few weeks after the Supreme Court ruling on March 2, 2023.

Some small business owners who spoke to our reporter say they have refused to collect the old naira notes because there has been no information from the federal government or the Governor of the Central Bank of Nigeria saying the old naira notes should be used.

A business man, Mr Ebitimi Martins emphasized that after President Muhammadu Buhari’s broadcast saying the old 500 and 1000naira notes are no longer legal tender, there has been no contrary information hence he has refused to collect them from his customers.

Mrs Gloria Nkoyo, who owns a retail shop noted that she stopped collecting the old naira notes because she could not spend them to replace goods in her shop.

Another business man, Mr Tony Ikio noted that it is quite difficult to see the new naira notes even in the banks which are suppose to dispense cash which has made many operators of Point of Sale, POS to charge exorbitant prices for transactions.

Some market persons in Akenfa staged a peaceful protest over the use of old and new naira notes saying the banks are now giving back the old notes which were previously deposited but many persons are still rejecting them which is making things difficult for them and affecting their businesses.

They called on the state government to come to their aid and address the situation of the use of the naira notes adding that if the new ones are scarce, people should be allowed to use the old notes.