[News] New Naira Notes Numerous at Parties, Scare in Banks

New Naira Notes Numerous at Parties, Scare in Banks


While the new Naira is causing long lines at ATMs, there has been abundance in Political Parties.  Videos of people spraying the new naira notes at parties went viral on social media last week, as others waited in line at ATMs to get the new currency.

Commercial banks must have enough Naira notes, according to Godwin Emefiele, governor of the Central Bank of Nigeria (CBN).

Despite the extension of the deadline for the exchange of old Naira notes for the new designs of the Nigerian currency, there were big crowds and protracted lines at cash stations and banking rooms in key cities throughout Nigeria earlier in the week.

While the lack of the new notes made it harder for many vendors to conduct cash transactions in local markets, poor network performance and other technical difficulties hindered online transactions at shops, eateries, and shopping centers in big cities.

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