By: Salako Tijani
Barely 192 hours of the release of the redesigned Naira notes, some micro enterprise and traders in the market are still rejecting the newly redesigned currency while some said the one in circulation are still fake.
It could be recalled that the Governor of Central Bank of Nigeria, Godwin Emefiele announced that the newly redesigned N1,000, N500 and N200 bills became legal tender on Dec. 15, 2022 as the old notes would cease to be legal tender by Jan. 31, 2023.
Standard Times Newspaper went around for reactions from individuals, micro business owners and traders in the market about the new money in circulation and how well the members of the public received it.
However, Mr. Abiola Judah who owns a micro enterprise of shoe making said, “I have seen the new naira notes but they’re easy to duplicate, it has zero defense against water and squeezing,
it is not attractive.”
Judah who added that “only a low percentage of the new currency is being released for public usage definitely it will be difficult to spend, however, I feel their awareness strategy is not strong enough, the market women and the unschooled, don’t know what’s going to hit them next year, how that, they would find it difficult to access cash and they would need to have a bank account and learn to use transfers more and conserve cash, so as to be able to continue business efficiently, ” Judah opined.
Buchi Freeman, who is a phone accessory seller spoke in pidgin language said “I no dey collect the new Naira note because the fake plenty.” He added that it is easy to identify the original from the fake going by what others are saying, but if I want the money I will go and collect it from bank.”
Nevertheless, one Mr. Eniola was asked about the new Naira note, he said “I have not seen the money, neither have I felt the texture so, I can’t say if the fake copies exist or not going by the popular saying – seeing is believing.”
Yet, the story is in different dimension from a point of sales operator (POS) who said “the first time I would see the money was with the alms beggars and it was a N1000 note accessing it among themselves.”
The point of sales operator added that he also hasn’t seen the money and he was unable to even access the money in the bank as the CBN said it would stop the collection of the old notes in January ending when the new notes are not in proper circulation,” he concluded.
A small pharmaceutical store owner identified as JayeiolaAdenike aired her opinion on the new naira notes that “though, I am yet to have the new notes but the criticism on it is enough a discouragement. But, I can’t say yet until I have some copies to know what it is like.”
Omokanye Hajarat who is a fashion designer in her opinion said “the CBN can do more by making the money available to Nigerians through the commercial banks by giving a directive to issue it through the ATM machine.”
