Despite banks’ limited supply of new naira notes, hawkers sell new notes at parties, charge N200 on N1000
A few days after the Central Bank of Nigeria (CBN) released the redesigned naira notes in the denominations of N200, N500 and N1,000, large wads of the new notes have saturated party venues with hawkers charging N200 on N1,000, despite some banks branches’ complaints a limited supply.
Recall that the CBN released the redesigned naira notes on Thursday, 15th of December,2022.
A woman was seen freely hawking the newly redesigned wads of N200 bank notes unhindered at a party in Ibadan, Oyo State on Saturday.
Newsflash Nigeria learnt that several bank branches had run out of the small quantities of the newly redesigned naira notes allocated to them from their head offices.
As of Thursday, Newsflash Nigeria confirmed that there was a limited supply of the redesigned notes as bank tellers mixed a few notes with the old ones for over-the-counter withdrawals while automated teller machines continued to dispense old banknotes.
Further findings revealed that several bank branches were yet to get their new note allocations with many bank officials informing our correspondents that the new notes were still being expected.
However, officials at some of the bank branches which still had the new notes confirmed that each cashier was given N100,000 of the new N1,000 for onward disbursement to customers seeking over-the-counter payments and that they don’t have the other denominations of N500 and N200 yet, Nigerian Tribune reports.
Customers were also seen depositing old bills over the counter, while cashiers were paying out more of the old naira notes at the bank branches.
However, some Nigerians have expressed displeasure after a mint merchant was spotted hawking the new Naira notes at a party.
A man who shared the photos on the microblogging platform, Twitter opined that Nigerians will always find a way to get around the system.
He lamented that while banks are still yet to meet the demands of customers, mint merchants have the new note in abundance to sell at parties.
He wrote: “Nigerians will always find a way to circumvent the system. New Naira notes wey banks no see disbursement to customers, hawkers have in abundance to sell. New Naira notes are already being hawked at parties!!! NIGERIANS!!!!”
Other Nigerians while reacting to the tweet, claims that some banks prefer to sell to the mint merchants because of the gain involved.
Chigozie_ehim1 wrote: “I have a feeling that bankers prefer to sell them in the parties and make gains. That’s the problem. These hawkers can’t get the new notes except through the banks. So do the maths. Trust me, our citizens need a serious reorientation before anything will work in our nation.”
Maryboma195_ wrote: “Banks are the ones giving them .. so much corruption going on in the system”
Iamclara_theo wrote: “And the merchants are mostly CBN staff”
i_lotus.ceo wrote: “This tells you that Nigeria will not work. It’s a total failed system.”
Abujamicrobladingacademy wrote: “These are the problems! Na the banks be the Koko problem. Na dem go give their big clients enough cash to store for house na dem go still give black market to sell..Nigeria Dey play just Dey play”
Ebytexfx wrote: “Bank managers are the ones selling it to them”
Thatigalaguyng wrote: “Who do think gave them the notes? Bihari? Abi CBN Governor it’s the same bank that doesn’t have to give you”
Ndphil25 wrote: “They said maximum withdrawal a week is 100k, these ppl Dey carry millions. That means they will still carry millions of cash for election. Nigerians are d problem of Nigeria. how do they get the cash if not from the banks”
Legendary_e.e wrote: “So the Nigerians didn’t get them via CBN etc connections? Y’all sometimes criticize the symptoms and leave the disease.”
Henrycolagos wrote: “So you people still believe in this country, I pity those that keep saying Nigeria go better, e no go better ooooooo Nigeria na national cake ooo when you reach there cut your own make I cut my own , if you no get opportunity die for hunger”
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