Confusion As State Reject Old Naira Notes Before CBN’s January 31st Deadline

Confusion As State Reject Old Naira Notes Before CBN’s January 31st Deadline

Residents in Sokoto State have reportedly refused to collect old naira notes from customers despite the January 31st deadline.

According to Punch, most businesses in the state on Monday have started rejecting the old naira notes.

It was also gathered that motorcycle operators also known as ‘okada’ rejected the same notes from their customers.

A resident, Atiku Abdulrafiu told the aforementioned publication that the Central Bank of Nigeria has to find a way to extend the deadline of the old naira notes in circulation.

He explained that as of today, most banks in the state still paid customers with the same old naira notes.

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“I was in the bank today to withdraw, we withdrew N580,000 and do you know what? All the money given to us were old notes.

“We requested new notes but to our surprise, they said no new note is available.

“Now, how can you imagine that the same money is being rejected by traders and business people in the same state.”

Also speaking, a trader in Sokoto Old Market, Alhaji Isa Saa, said he had decided not to open his shop till the end of the month for fear of receiving old notes.

He said, “I have told my customers not to bother to come to my shop till next month as I will not open for business.

“I don’t want to collect money that will expire in my house.”

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He however appealed to the Federal Government to look into the plight of Nigerians and extend the time frame for the old naira notes in circulation.

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