New naira note and old naira note saga in my country Nigeria continues.
The federal government initially gave an ultimatum of 31st January,2023 for the usage of old naira note but the new naira note is not much in circulation which made the people to demand for an extension in order to enable them exchange the old with the new one.
I thought the extension date could bring relieve and help to cease the old currency but the challenge is becoming out of hand. Do you know that since this saga started it has really rubbed lots of businesses their growth?
I had a conversation with one of the bankers and he told me that the new naira note is not available for them to pay customers neither to lodge it into the ATM machine for people's usage.
The one that shocked me was when I visited a POS operative to withdraw my money since most of the ATM points in the bank has no money. Hmmmm I was told that I can not even withdraw more than ₦5,000 because it's not easy for them to get money they had to even paid to have this little amount. On that, the fee charge for every transaction increased by 300%. I started wondering whether to laugh or cry? How would this extension result to more hardship and slow more business operations.
My big question is how would a common man in the village feel? What a country that two different note coexist? Do you know that a friend of mine spent hours just to withdraw money. I discovered that every thing now in my country is queue both in school, banks etc. Where are we going with all this? Why must we set a policy that we weren't ready to obey.
This naira note saga is seriously eating the citizens deep and making life uncomfortable. I can't even see much difference between the old and the new naira note if not the colour change.
Some people have started extorting others already because Nigerians are opportunist now they sell the new naira note.
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