THE CABLE
It has been stories of frustration and anger since the N200, N500 and N1,000 naira notes became scarce commodities following the redesigning of the currency by the Central Bank of Nigeria (CBN). For people that depend on cash to run their daily business activities, the naira scarcity has taken a toll on their finances while point of sale (PoS) merchants have taken advantage of the situation. TheCable’s SAMAD UTHMAN reports.
Hassana Aliyu was browsing through news feeds on her phone in her office, when she came across a headline detailing how the Central Bank of Nigeria (CBN) had redesigned the N200, N500 and N1000 notes.
Aliyu said she was delighted that the new naira notes would not only stop the rising inflation but also help curtail vote buying and douse terrorism financing in the country.
The 32-year-old Aliyu did not foresee any iota of frustration in the phase-out of the old naira notes until she was strapped for cash for four days after the stipulated deadline.
Aliyu said she had roamed different automated teller machines (ATMs) stands around her area in Bwari, Abuja, but she met long queues.
