Thursday, October 12, 2023

CBN Deadline: I’ll Stop Accepting Old Naira Notes by 25th of this Month – Business Man

Top Articles

Abdullahi Abubakar
Abdullahi Abubakarhttps://newsbrief.ng
Abdullahi Abubakar is a writer and passionate about journalism; his writings focus on current affairs and politics. He holds a bachelor's degree in Sociology and Anthropology from the University of Maiduguri. AFP and Reuters trained him in digital news sourcing and content creation. He also got trained in investigative journalism. Contact: abdullahi.abubakar@newsbrief.ng | 07063078745.

Gombe Main Market – A businessman in Gombe main market Alhaji Hassan Yahaya Pindiga has warned that he would stop accepting old Naira notes by next week, 25th of January, as against the CBN deadline.

His warning has caught the attention of the people in the state, which he wrote boldly in front of his shop.

Recall that the Central Bank of Nigeria (CBN) has fixed the deadline for the old currency (N200, N500 and N1,000) to be invalid by January 31.

However, Alhaji Hassan said he will stop accepting them on the 25th of the month.

He wrote on the notice board in his shop so that his customers could see the message about his intention concerning the old currency.

I may end up not depositing my old Naira notes, if…

Responding to our correspondent when asked why he notified his customers against the deadline set by the CBN, he said:

“It’s because of our customers that we can’t predict. If I say I will leave until the time it will be late, to take the money to the bank”.

When asked whether what he did, make people to bring new money to him or using credit cards or bank transfers to pay money, he said:

“God willing. Because we have started to see it from now. We are in the market, Alhamdulillah, but we are still afraid.

“Our fear is that customers are not coming to buy goods like before.

“As a result of this, after business dealings, everyone will take the money to the bank and wait for a while to see.”

CBN new policy

Recall that the CBN redesigned the new currency in December 2022, and introduced new rules and regulations before rejecting the old Naira notes.

Mr. Hassan said that he was afraid of what might come next from his customers, because people are not treated.

He also stated that he did this to attract the attention of the people to quickly take their money to the banks to avoid losses.

Pleading with the government, Hassan asked the government to review and extend the deadline.

Read also: