*Nigerians react
A cross-section of Nigerians have reacted to the Central Bank of Nigeria (CBN) unveiling of a countdown to the January 31 deadline, when the old N1,000, N500, and N200 notes will cease to be legal tender.
The Quest Times reports that the CBN had on November 8, said it had finalised arrangements for the new currency to begin circulation from December 15, 2022, after its launch by President Muhammadu Buhari.
The bank explained that the new and existing currencies shall remain legal tender and circulate together until January 31, 2023, when the existing currencies shall cease to be legal tender.
The Nigerian Senate had called on the CBN to extend the deadline to phase out the old naira notes till June 30, 2023.
Amid complaints that the new naira notes remain scarce across the banking sector and are not fully in circulation, the CBN on Friday launched a countdown to the January 31 deadline when the old notes will cease to be legal tender.
Unveiling the countdown on its Twitter page on Friday, the CBN said the deadline now remains 24 days, saying “the current series of N200, N500, and N1,000 notes remain legal tender until the deadline of January 31, 2023.”
With 24 days to the deadline given to Nigerians to deposit their old notes, the Central Bank of Nigeria (CBN) has reiterated that there will be no extension.
However, reactions have continued to trail the countdown by the CBN as Nigerians took to their Twitter handles to express their grievances on the new development.
Here are some of the reactions gathered by The Quest Times;
@EdidiongEnwe said; “Till today I haven’t had any new notes. Quite okay I’ve seen just 1000 notes with someone. I’m staying in a student area where we expect quick circulation of money. How then do you give 3 weeks countdown? Do something about it before you start a countdown.”
@bayoadetunji said: “But the new notes are not anywhere… Hope you are not on a mission of economic sabotage?”
@BenNwokoye wrote: “Like seriously? I went to withdraw money from the ATM (first bank) and was given old notes. I went to the counter to ask for the new notes, I was told I’ll not be given more than 10,000.00. How can the dates be possible when banks are still dispensing old notes?”
@amaku_pretney said, “Are you joking?
When commercial banks and atm are still giving the old notes… is it malaria?
@SprintLogistic1 noted that: “CBN is a big joke. Honestly. You should know better than anyone else that the deadline is not realistic. Banks still give the old notes. Atms still dispense the old notes, yet it’s just a couple weeks to your bogus deadline. No be juju be that?”
@Mrugoboss said: “Where are the new notes then? Or are you guys planning to stock the old notes in the hands of Nigerians and making them broke after January 31 because according to you, old notes can’t be spent anymore after the 31st?”
@muhdsumar said, “The new notes are barely seen. I met a manager of one of the largest microfinance banks today, 6th Jan, he told me that he has never seen the new notes.”
@Raaveeu_Gaarvaa said, “Those days @cenbank give is not enough especially for businessmen, because even inside bank there’s no new notes of 1000, 200, and 500 even today if you go to the bank they can’t give you new note, So please adjourn it and make other people from rural area spend the old one.”
@KenUttih said, “I’ve not seen this new note yet despite using the ATM a couple of times since December 15th, 2022. This is not a good sign leading up to the deadline looking at the fact that the note is not available and people are rejecting it also. Not good.”
@Gilliuire said, “The deadline date isn’t feasible. We still have lot of the old notes in circulation. Funny how today is my first seeing the new 1k note.”