Metropolitans, PoS Operators Lament Poor Circulation Of New Naira Notes In Abakaliki


    By NWOGHA NDUBUISI, Abakaliki

    Residents among Point of Sales (PoS) operators Abakaliki town, the Ebonyi State capital have lamented poor circulation of the new naira notes .

    Our correspondent who interacted with some of the residents gathered that there’s scarcity of the new naira notes despite the increase rejection of the old notes.

    Narrating her bitter experience, Mrs Nwekori Celine hinted that she deposited her entire savings into her bank account hoping to withdraw the new naira for two days but all to no avail.

    She explained that few banks within the urban that was paying stopped paying through the Automatic Machine (ATM) making it difficult for people to access money for their immediate needs.

    Speaking with Comrade Edward Nwenu, Point of Sales, (PoS) operator described the hoarding of the new naira by commercial banks as a target to frustrate Small business owners,hence, appealed to Central Bank of Nigeria to extend the period of acceptance of the old notes.

    Comrade Nwenu who hinted that the scarcity of the new naira notes had affected their business as customers no longer accept the old notes during transactions, thereby, frustrating their business.

    Another operator, Mrs Angelina Ituma narrated that she stopped accepting the old notes since Tuesday of the week when customers started rejecting the old money.

    She blamed federal government and Central Bank of their poor preparation and explained that if nothing is done to release more money into circulation that the change will force many business to shutdown.

    Authentic News Correspondent who went round the major Automatic Machines(ATM) in the town observed long queue of stranded customers waiting for their machines to start paying.

    Some of the stranded customers who spoke to us including Mr Peter Agwu and Aliede Joy appealed to Central Bank of Nigeria (CBN) to release more money into circulation, even as they monitor commercial banks to ensure they do not resort to selling of the new naira notes making it scarce for the citizens.


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