The fear of losing your hard earned cash to the naira redesign policy of the Central Bank of Nigeria explains the recent long queues at Automated Teller Machines (ATMs).

The CBN had announced last year after the introduction of the redesigned new naira notes that come January 31, 2023, the old notes would be phased out urging the masses to go and deposit their old with their respective banks.

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Nigerians, both big and small are currently on the search for the new naira notes that’s few in circulation and elusive to the people who need it for various transactions.

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The new naira notes seem not to be sufficient in banks, resulting in most banks not loading money in more that one ATM machine.

This combined with the fact that the Central Bank of Nigeria has refused to shift it’s deadline for the phasing out of old naira notes has left most Nigerians frustrated.

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Worried faces merged with sadness meets onlookers who cannot but pity the suffering customers on ATM queues who are in search of money to buy bread, pepper or even transport themselves to their various work places and other destinations.

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Nigerians are worried and scared because they could lose their money with this cbn policy.

As at January 29, 2023, branches of all the major banks in Lagos have less than enough new notes to cater for the needs of the people who need the notes.

However, the CBN Governor came out to reiterate that the deadline remains sacrosanct, maintaining that there is enough newly printed notes in circulation.

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Whether it’s the CBN that has not printed enough new notes or it’s the banks hoarding the new notes for reasons best known to them, ordinary Nigerians are the ones at the receiving end.

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It will be in the best interest of everyone that the CBN and all the banks come together and resolve any bottleneck in the circulation of the new notes to spare Nigerians the suffering they are currently going through because this naira redesign policy.

Nigerians are however on the receiving end of the draconian and satanic policies of the CBN, but then what can they do other than to conform with this policies.

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