New Notes Dry up as Previous Money Circulation Improves

New Notes Dry up as Previous Money Circulation Improves
Old Naira Notes
Previous Naira Notes


Forex circulation has improved in main cities throughout Nigeria following the third day full implementation of the Supreme Courtroom ruling on the authorized tender standing of previous Naira banknote.

Findings reveal that banks have began simultaneous dishing out of the previous banknotes over-counters and thru the Automated Teller Machines, ATMs.

Additionally the previous banknotes at the moment are nicely accepted by most merchants and providers suppliers simply as banks at the moment are accepting them.

Nonetheless, the banks seem to have run out of latest Naira notes as each the ATMs and the banking halls visited by Economic Confidential  present that solely previous banknotes had been out there.

Learn Additionally: Naira redesign implemention failure and its consequences

A workers of one of many banks in Lagos Island mentioned that the majority banks, together with her personal, haven’t obtained provide of the brand new banknotes since this week.

Additionally our findings reveal that the banks are nonetheless implementing money withdrawal limits topic to a most of N10,000 per buyer per day.

However some banks on the time of go to weren’t dishing out the foreign money notes as a consequence of lack of money. A safety personnel at one of many banks mentioned the money out there had been exhausted earlier earlier than the go to.

In the meantime, in markets visited merchants had been seen accepting the previous naira banknotes.

A businessman who had collected the previous notes from a financial institution ATM on Lagos Island, mentioned he purchased petrol with the cash and it was accepted. Motorists and merchants within the neighborhood additionally accepted the previous foreign money notes.

naij new

Read More

Read Previous

MC Oluomo shares packets of garri to residents in Ejigbo forward of gubernatorial election (Video)

Read Next

Arewa Financial Discussion board: Poisonous Rhetorics, Lethal Threats Might Hamper Guber, Meeting Elections

Leave a Reply

Your email address will not be published.