Aba Residents Decry low Availability Of New Naira Notes

The push to replace the old banknotes with new ones has left very limited cash in circulation, causing frustration and anger for many people who spend hours at the banks attempting to withdraw their money, as well as the possibility of theft for business-owners.

Although, the Central Bank of Nigeria (CBN) has attributed the continued scarcity of new naira notes to hoarding in certain quarters of the country, the persistent scarcity of the new notes is still worrisome as the 31st December deadline fast approaches.

Enyimba FM correspondent, Stephanie Okpara, interacted with some residents of Aba, but most of them claimed that the new notes are very scarce, especially when withdrawing from ATMs. One of the respondents even asserted that the Central bank may have suspended printing the new notes as they are hardly seen anywhere.