Bundles of new naira notes sprayed at parties, as ATMs run dry

As many Nigerians continue to complain of scarcity of the redesigned naira, a video making the rounds on social media shows bundles of mint new naira notes being sprayed at a party.

The video has elicited concerns, as Nigerians wonder how few people could have so much of the new notes when it has scarcely been seen and used by most.

A banker who spoke to Ripples Nigeria on the development confirmed that banks have what is described as high net worth customers, also known as priority customers.

Also, currency traders pay extra to mop up large amounts of the redesigned naira notes.

Read also:Scarcity of new Naira notes hits CBN’s cash swap with banks, First Bank reject PoS agents’ request

Meanwhile, many banks’ ATMs have run out of the new naira notes and have remained empty and unable to dispense cash to customers.

Today, Saturday 28th January 2023 makes it two days before the old naira notes cease to become legal tender on Tuesday, January 31, 2023.

Despite pleas for an extension, Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) has insisted that commercial banks have enough naira notes.

He said that the policy was being pushed by the CBN to help it effectively drive monetary policy goals which have been largely undermined by the huge currency still outside the banking system.

New naira notes are nowhere to be found but Dem don dey spray am for owambe party. Get your PVCS ready, this nonsense must stop. Vote LP 📌 pic.twitter.com/hatmFww5Yo

— MadonaLP (@madona1996) January 28, 2023

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