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    NOA engages Gombe stakeholders to strengthen national unity

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    Buni Boosts Rural Healthcare: 16 More PHCs Upgraded Across Yobe

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        uni upgrades 16 additional PHCs to boost Yobe's healthcare delivery

        Buni Boosts Rural Healthcare: 16 More PHCs Upgraded Across Yobe

        States, councils creations resonate at Constitution review committee in Northeast

        States, councils creation  resonate at Constitution review committee in Northeast

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        Cooperative society key driver of economic growth – Adamawa Gov

        NECSN Pushes Bold Constitutional Reforms for Fiscal Transparency, Credible Elections

        NECSN Pushes Bold Constitutional Reforms for Fiscal Transparency, Credible Elections

        Arewa group mourns billionnaire philanthropist, Aminu Dantata

        Arewa group mourns billionnaire philanthropist, Aminu Dantata

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        CDS Musa Launches Youth-Led SAVE Task Forces, Rallies Northeast Students Against Extremism

        CDS Musa Launches Youth-Led SAVE Task Forces, Rallies Northeast Students Against Extremism

        Navy, Army commit to secure naval base, Lake Chad waters against insurgency in Borno

        Navy, Army commit to secure naval base, Lake Chad waters against insurgency in Borno

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        Army Vows Crackdown on Benue Killers, Strengthens Operations Nationwide  

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        Army, Police collaborate to tackle insecurity, two others in Borno

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        Fierce Firepower: Troops Repel Boko Haram Attacks in New Marte, Kumshe — Recover VBIED, Neutralize Dozens

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          CDS Musa Launches Youth-Led SAVE Task Forces, Rallies Northeast Students Against Extremism

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          Navy, Army commit to secure naval base, Lake Chad waters against insurgency in Borno

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          Army Unleashes Vanquish Tankers to Crush Terror Threats in Northeast 

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          Scarcity of new Naira notes hits FCT, residents cry out

          Halima Abdulkadiri by Halima Abdulkadiri
          April 23, 2023
          in Local, News
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          Scarcity of new Naira notes hits FCT, residents cry out

          Scarcity of new Naira notes hits FCT, residents cry out

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          Scarcity of new Naira notes hits FCT, residents cry out

          Some residents of Abuja and environs have decried the scarcity of the new naira notes.
          The Central Bank of Nigeria (CBN) has restored the old 200, 500 and 1000 naira notes to remain as legal tender until Dec. 31.

          According to newsmen who monitored the availability of the new notes reports that residents are lamenting over the scarcity of the new notes.

          Mr Moses Nnegedu, a resident of Nyanya, said if CBN was serious to accomplish its goal on the circulation of the new naira note before the deadline, it would monitor the commercial banks.

          ‘’The last time I used the new note was two weeks ago and  it is really not available.

          ‘’It seems that the new notes are being hoarded.

          ‘’There should be political will to ensure the circulation of the new notes before the expiration date so we don’t have a repeat of cash crunch,’’ he said.

          Read Also: APC Dissolves Presidential Campaign Council

          Mr Gabriel Daniel, a resident of Garki, said he didn’t think the Dec. 31 deadline would be visible because presently it was only the old notes that were available.

           ‘’ I can’t remember the last time I saw or used the new notes because even the banks are dispensing old notes both at the ATMs and in the banking hall.

          ‘’One of the problems we are having in this country is non-implementation of policies and the absence of accountability from those in authority.

          ‘’At this point, I am just confused, because the moment the announcement was made that both note should be legal tenders, the few new ones disappeared,” he said.

          According to Mr Abbah Moses, a resident of Gwagwalada, those who have a lot of money and are able to get the new notes earlier are hoarding it against the December dead line.

          ” So, even if the banks release the new notes and it is being hoarded by some person, there will not be enough in circulation.

           ‘’In the past one week, I have only seen one new N500 note.

          ’’ The situation might be worst than what we had experienced early this year,’’ he said.

          Mr Manasseh Gimba, a resident in Dutse, said the last time he saw the new note was a month ago.

          ‘’CBN should print more new notes and ensure they are in circulation.

          ‘’The old notes in circulation should be limited if the December dead line will be visible, he said.

          NAN reports that the Supreme Court had earlier extended the validity of the old naira notes till Dec. 31.

          However, Nigerians believe that the new notes, in circulation though, which were hard to get at the time of release, have gradually vanished.

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