Hawkers Sell Redesigned Naira Notes At Zaria Motor Park
By Abdullahi Ahmad Bamalli
Despite the scarcity y of the redesigned naira notes in circulation, some smart alecs have been seen hawking the new notes at Dadi Motor Park, Sabon Gari-Zaria, Kaduna State, at exorbitant prices.
The large wads of different denominations of the notes were seewedisplayedplay at the entrance of Dadi Motor Park, Kwangila area of Zaria city for prospective buyers.
It was revealed that a bundle of N200 notes was going for N30,000; N500 notes are being sold at N70,000 and N1,000 notes are selling at N130,000, while N100 is selling at selling, at 000.
Mohammed Bello, a new cash hawker, said they paid between N70,000 to N130,000 to obtain new N500,000 notes, depending on the denominations of the notes.
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However, Mr Bello declined to disclose the sources of the money and encumbrances.
Thomas Damina, a resident of Gozaki village in Kafur Local Government Area of Katsina State, who patronised the mints vendors, said that he bought the new N20,000 of N1000 notes at N25,000.
He said he was forced to purchase the money at an exorbitant price to enable him to settle e the labourers working in his dry-seasons
“Traders in my community (Gozaki) are rejecting the old notes and the money is not available at the banks. I have no option than to buy from cash hawkers,” Mr Damina said.
It was also observed that trading in the new Naira notes was receiving patronage as customers thronged the banks, rushing to beat the January 31 deadline.
Most ATMs of some commercial banks at PZ, the commercial hub of ant Zaria city, were not dispensing cash.
Trading in Naira notes is in contravention of Section 21 of the CBN Act, 2007, which is punishable under Section 21 Subsection 4 of the Act.
Despite laws prohibiting hawk the ing of naira nNairaand coins, the perpetrators were freely doing their busibusinessse at the police outpost at Kwangila, Sabon Gari Zaria.
Reacting to the development, DSP Mohammed Jalige, the Police Public Relations Officer, Kadunat a State police command, assured that the police would swing into action against the crime.
