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New Naira Notes: Scarcity of redesigned currencies generates economic and social crisis in Enugu State

Last updated: January 29, 2023 3:31 pm
3 years ago
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2 Min Read
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Enugu State

The scarcity of the newly redesigned notes has continued to generate economic and social crises in Enugu State, South East Nigeria.

Residents are daily spending productive hours in long queues at commercial banks Automated Teller Machines, and points in search of new currencies.

When the AIT crew visited some commercial banks within the Enugu metropolis, customers who claimed they had spent several hours and days trying to source the redesigned Naira notes reacted angrily to the none availability of the currencies which has made life difficult for their families.

Also Read: Redesigned Naira Notes: CBN engages 750 agents, allocates 120 million nairas to facilitate currency swap in Katsina

They described the situation as frustrating and unfortunate, alleging that the new CBN monetary policy seems to be targeted at worsening the economic and social lives of the common citizens.

Some of the ATM machines in the city center are either not functioning or slow in dispensing, causing tension to build among the people.

Those who spoke to AIT argued that the policy had thrown many families into untold hardship as they can no longer buy food items in the markets with the old Naira notes even before the deadline set by the apex bank.

AIT equally visited one of the Swap Centers with the CBN monitoring team.

The Currency Swap Centres are set up for the easy exchange of the old Naira notes, where an individual is allowed to swap a maximum of Ten thousand Naira of the redesigned notes.

(Editor: Nkoli Omhoudu)

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