Some Nigerians have refused to transact business using the Central Bank of Nigeria’s new naira notes because they are alien to them.

Reports going around show that some vendors have refused to accept the new naira notes as legal tender while transacting business with their customers.


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In the Ladipo area of Lagos State, a market woman stormed the branch of her bank to return the new naira notes. She explained that customers who bought goods from her did not accept the notes from her.

According to her “these new notes aren’t popular yet with most of my customers. They are not enthusiastic about accepting it,” she said, adding that one of the new denominations stains white garments if it is wet.

A food vendor was seen in a viral video going physical with a customer who after eating at her shop, paid with the new N1000 naira note, which the vendor was not familiar with. She said the guy (customer) was trying to pay her with a fake note. This led to a serious fight where the food vendor tore and left the customer naked.

Many people have yet to come to terms with the fact that the N1000, N500, and N200 notes of the nation’s currencies have been redesigned as such many are refusing to transact business with customers who present the Central Bank’s new naira notes to them.

Meanwhile, the CBN has restated its resolve not to shift the Jan 31, 2023 deadline for the phasing out of the old naira notes.

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The apex bank, recently constructed and added a digital clock to its website and urged Nigerians to visit the site, in order to be properly informed of updates on the old naira notes.


There are so many other unreported cases all around the country.


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