The old Naira notes have been rendered obsolete in Zamfara State, with dealers, business centers, marketers, and even Point of Sale, POS, providers refusing to accept them since last week, despite the fact that the deadline for their usage has not passed.
The scenario has made business extremely boring, as minor traders in numerous marketplaces, business centers, and businesses exhibit evident anxiety of losing money if they collect the old notes.
Many POS centers have been forced to close due to accusations that customers deposit old notes in order to meet the deadline.
Some POS providers complained that the Central Bank of Nigeria’s deadline was too short, and that the new notes were scarce even at banks.
Some interviewees urged the CBN to extend the deadline so that people, particularly rural residents, may deposit their old Naira notes at their respective banks.
This medium also learned that transporters and commercial motorcycle riders have refused the old Naira notes, citing a lack of time to queue at banks to deposit them.
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