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Traders in Nasarawa State Complain of Scarcity of New Naira Notes

By Yusuf Usman

ReIn lafia,the Nasarawa state capital traders have been complaining of low patronage due to scarcity of the new naira notes in circulation.

Similarly, there has been scarcity of cow and goat meats in the market as Fulani herders have refused to collect the old naira notes from buyers.

Despite announcement by Governor of the Central Bank of Nigeria CBN for the extension of period to deposit the old 200,500 and 1000 naira notes in banks,some residents continue to reject the old notes,while the new ones are few in circulation.

Though most of the ATM points across banks within lafia have started dispensing the new notes,unlike over the weekend, long queues of customers could be seen waiting for hours to get to their turn to withdraw.

Speaking with Radio Nigeria at the lafia modern market,Mrs Esther Joseph and Talatu Madaki attributed the low patronage in the market to lack of new notes in circulation .

In an interview with a butcher at the popular lafia abattoir in Shinge,Yakubu Garba said activities are now quiet due to non supply of animals by herders.

A cattle seller,Modibbo Bello said they have plenty of the old naira notes at home yet to be deposited in banks and as such cannot continue to receive more except the new notes.

There were mixed reactions from some residents of Lafia on the extension of deadline for deposit of the old notes by the CBN.

Some commended the move as it would enable more people to go and deposit the old notes while others criticised the apex bank saying it has finally succumbed to pressure from politicians.

What do you think?

Written by Shehu Abbas

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