Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/bcm/src/dev/www/wp-includes/functions.php on line 6121 new naira notes | Zikoko!
A popular anonymous account on Twitter, now retired, had these words written on their bio: “This is Nigeria, anything you see you just have to take it like that.” Every passing day in Nigeria reinforces this quip.
The latest news is the Supreme Court has adjourned hearing on the status of the old and new naira notes. The case is a joint suit filed by ten states against the federal government. Today, February 15, 2023, was supposed to be the moment of truth after the Central Bank of Nigeria (CBN) said the deadline to turn in the old naira notes was February 10.
Instead, we’re back in limbo again. It’s aluta continua as the Supreme Court has adjourned the case to February 22, 2023. As it stands, we live to fight/die another day.
[newsletter type=”gov”]
So what happened?
According to Channels, the Supreme Court was filled with governors of Kaduna and Kogi, Nasir El-Rufai and Yahaya Bello, in attendance, along with other senior advocates of Nigeria.
Zamfara, Kogi and Kaduna filed the original suit against the FG. Other states joined in, including Niger, Kano, Ondo, Bayelsa, Edo, Lagos and Ekiti. You know it’s a serious matter when you can get El-Rufai away from campaign duties to be seated in court.
[Governors Nasir El-Rufai of Kaduna State (left) and Yahaya Bello of Kogi State (right) at the Supreme Court on Wednesday. Credit: Ameh Ejekwonyilo]
Justice John Okoro led the seven-person panel. He said Nigerians shouldn’t “lose sight of the case and its intention as it affects the suffering of Nigerians” before adjourning the matter. This has left us hanging with regards to when, or if, our suffering would end.
In an earlier article, we asked if the Supreme Court could force the CBN to postpone its deadline. This adjournment shows the Supreme Court can do more than that. It can delay a ruling required to make the CBN postpone its deadline. A powerful reminder that it’s the Supreme Court’s world, and we’re all just living in it.
What could this mean for Nigerians?
Without mincing words, an adjournment of the ruling till February 22 — just three days shy of the general election, is ominous.
The current Naira scarcity is affecting trading, creating hardship, and causing protests across cities like Ibadan, Abeokuta, and Benin. It’s difficult to predict how this may force an election postponement or encourage low voter turnout on election day.
The Independent National Electoral Commission (INEC) has already debunked rumours that the election will be postponed and insists it’ll proceed as planned.
FAKE NEWS ALERT Our attention has been drawn to a fake report circulating on the social media with the title: “INEC May Postpone Feb 25 Election by a week or two”
The Commission will not and is not contemplating postponing the 2023 General Election. Nigerians should disregard it pic.twitter.com/KcTlhpcSEn
For others, it’s uncertainty in financial transactions as people do not know if old notes are legal tender across the board until the Supreme Court gives a verdict.
Once again, we wait to see how things play out. But as you do, don’t forget those poignant words from earlier, “this is Nigeria, anything you see you just have to take it like that.”
In a press release on February 10, 2023, the Central Bank of Nigeria (CBN) came out guns blazing to tell Nigerians that news of it being unable to distribute the new naira banknotes due to the mint’s shortage of printing materials were false.
Part of the statement, signed by its spokesperson, Osita Nwanisobi read, “we are alarmed at the extent to which vested interests are attempting to manipulate facts and pitch the public against the bank.”
The new scourge plaguing the Nigerian economy isn’t inflation or economic mismanagement. To the contrary, it’s a shadowy group of individuals described as “vested interests” by the CBN, or if you prefer Nasir El-Rufai’s version, the “cabal.”
While those in charge point fingers and abdicate responsibility for the current naira scarcity, we shouldn’t be distracted. Every Nigerian should ask: what’s the value of the new naira notes the CBN issued?
A house divided
On October 26, 2022, the CBN governor Godwin (Meffy) Emefiele took Nigerians by surprise when he announced he’d retire the big boy naira denominations of ₦200, ₦500 and ₦1000 notes to give them a facelift.
Meffy gave several reasons for this move. He said Nigerians were hoarding too much cash. Then there was that one about fighting counterfeiters and, our favourite — to choke kidnappers.
A couple of days later, we heard from the Minister of Finance, Zainab Ahmed, that she wasn’t consulted on it and received the news about the same time as we did. Granted, the CBN and the ministry of finance have different areas of remit. Still, the fact that a decision of this magnitude was taken without even briefing a related ministry was an early sign that the CBN was doing its thing, haters be damned.
At the time, we wondered if the redesign was just banter but Meffy has not stopped pressing our necks.
On November 23, 2022, the new notes were shown to the public for the first time, spawning questions about which Snapchat filters were used to redesign them. On December 15, the new naira notes entered circulation but were scarce. The House of Representatives summoned the CBN to explain the reason. They asked the Deputy Governor of the CBN how many new notes were printed. Her initial response was that she didn’t know, lol.
Only after continued grilling did she say the CBN ordered 500 million new naira notes for printing. Keep this number in mind.
Rumours and chaos
The CBN initially fixed a deadline for January 31, 2023 for the old banknotes to stop being used. It then extended it to February 10, 2023. The CBN remained adamant on this new deadline despite pleas from several Nigerians and even the International Monetary Fund (IMF), asking for an extension.
The scenes which played out over the naira scarcity nationwide include protests, riots and even vandalism. Some banks have had to shut down their branches because of the security threats posed by angry customers starved of cash. The CBN’s silence on the issue has created a hotbed of rumours. Some have accused commercial banks of hoarding money, and the banks have refuted those claims.
Dear @icpcnigeria, The allegation of a discovery, as presented in the narrative, is inaccurate and misleading. It must be noted that no cash was “stashed” in the vault of the regional office, and for emphasis, Sterling Bank has complied with all the guidelines#FactsOnlyhttps://t.co/aF4nMM78DJ
What’s the exact value of the naira notes that the CBN released?
According to BusinessDay, there’s some secrecy surrounding the exact volume of new naira notes in circulation. This is unusual. In 2019, 3.05 billion banknotes were produced. For 2020, the CBN released 2.52 billion banknotes. In 2021, 2.5 billion banknotes were produced at a cost of ₦58.6 billion. BusinessDay estimates they’d spend around ₦77.6 billion printing those 500 million banknotes, with another ₦6 billion to distribute across the country.
According to Punch, the total value of the new ₦1,000, ₦500 and ₦200 notes printed amounts to ₦500 billion. That figure varies with another source saying it’s ₦400 billion. Who do we believe?
Time for the CBN to open up
No one knows anything for sure, a blame that lies squarely on the CBN. Instead of issuing bland press releases that don’t address the issue, the CBN must, as a matter of transparency, tell us the monetary value of the new notes that have been printed. It should also tell us how they’re disbursed to the commercial banks in the country. That way, we’ll know who to drag.
In the meantime, the February 10 deadline has elapsed. However, some state governors dragged the CBN to court over the naira fiasco. The Supreme Court will rule on the matter on February 15.
For now, we’re in limbo, and no one’s quite sure how to proceed even though the federal government has said it’ll await the court’s ruling. We all look forward to the February 15 ruling with bated breath.
Regardless of the outcome, we must continue to ask: what’s the value of the new naira notes the CBN released in circulation?
You should also sign up for our Game of Votes newsletter. We help you make sense of news jargon and keep you up-to-date, especially with election news. Make the subscription of a lifetime here.
For a Nigerian currently living in Nigeria, holding new naira notes is as difficult as finding an oasis in the Sahara desert.
This is because of CBN’s expiration date on the old N200, N500 and N1,000 to be implemented on February 10. So far, there has been a scarcity of the new naira notes in circulation which has caused mobile banking app downtimes and even a ‘naira to naira’ exchange rate from POS operators.
This left Nigerians with a lot of mixed emotions on social media, with some jubilating, while others heavily criticised the order and even later had a protest at CBN headquarters.
But, how did the matter go all the way to the Supreme Court? Is the Supreme Court ruling legal or not? What should we expect next?
Let’s dive a little bit into the backstory.
How did the matter reach the Supreme Court?
On February 3, three frustrated governors from Kaduna, Kogi and Zamfara states, decided to drag the Federal Government before the Supreme Court. Their request? An injunction barring the CBN’s February 10 deadline on old naira notes as legal tender.
We imagine their faces look a lot like this
This request means serious trouble, as the Supreme Court is the highest court in Nigeria. Any decision that is made in this court is final.
In other words, if the Supreme Court is against the CBN’s deadline order, who is CBN to object?
The High Court to CBN, Buhari and commercial banks
But which direction will Nigeria face? High court and CBN or Supreme Court?
Supreme court vs federal high court: who’s the winner?
Before we decide who wins this fight, it’s important to note that the Supreme Court’s decision right now is not final. This is because the injunction was given under an ex-parte motion (i.e with only one party involved (the governors)).
The Federal Government is to come together and a final judgement is to be given on February 15.
Now to get back to our important question – whose ruling shall we believe?
The side of the Supreme Court?
In an interview with Channels Television, a Senior Advocate of Nigeria (SAN), Mike Ozekhome, maintained that the Supreme Court is the highest court in the land and that other lower courts “blow muted trumpets” when the matter is taken to the Supreme Court.
In his words, “Notwithstanding the fact that a high court or Federal High Court had granted an order telling the CBN, ‘You can stop this naira swap policy on February 10 as you have decided to do,’ the Supreme Court today said, ‘Hello? Don’t do that!” he said.
He also explained that the apex court’s judgement allows the old and new naira to be in the same position. He called this status quo ante bellum, which according to him means “the state of affairs before the crisis broke out.”
According to Ozekhome, “[The Supreme Court says] ‘Allow it to continue. Come back on February 15 and let us hear you people,’” he added.
Or the side of the Federal High Court?
To get another perspective on the situation, Citizen contacted human rights and constitutional lawyer, Festus Ogun.
For Festus, even though the Supreme Court may want to use the law of original jurisdiction in Section 232 of the 1999 constitution (a law that allows interference from the Supreme Court when a dispute is between states and the nation), the CBN is an independent body outside the Federal government. Therefore, the ruling is not even legal.
According to Festus, “By Section 232 of the 1999 Constitution, the Supreme Court can only activate its original jurisdiction when a dispute arises between the Federation and States or between states. The current dispute is clearly not one between the Federation and States. The CBN is an independent agency of the Federal Government. Any dispute relating to its monetary policies cannot be mistaken for a dispute involving the “Federation”.
He also added that the Supreme Court can only entertain issues involving CBN when the subject matter is an appeal arising from the decision of the lower courts.
This means that the only way the governors can legally get the Supreme Court “big boys” on their side is to beg or appeal the Federal High Court’s (the lower court) ruling.
What is the way forward on CBN’s deadline extension?
On the side of the Supreme Court, Nigerians have no choice but to wait it out. This is until both the governors and the Federal Government meet in court until February 15.
But when asked by Festus, he said that if one approaches the Federal High Court and sues Buhari, CBN, Godwin Emefiele (CBN Governor) and the Attorney-General of the Federation, then the deadline could be extended based on a breach of Section 20 of the 2007 CBN Act.
According to Festus, “If carefully litigated, I think the law, as far as I know, and practice it, supports an extension. The timeframe given by the CBN, with the greatest respect, is not reasonable as required by Section 20 of the CBN Act. [This section] says the deadline must be reasonable. What is reasonable is always a question of fact. So, it is desirable for the court to really determine if the CBN timeframe and deadline are reasonable.”
What would be the final judgement of the Supreme Court after February 15? Will the High Court use the constitution to get its way? Would Nigerians come out of the palaver that is the scarcity of the new naira notes?
Well, we have no choice but to wait and see.
The Citizen Situation Room and Helpline are your ultimate plugs for real-time gist and drama on the 2023 elections. Join the conversation today!
You should also sign up for our Game of Votes newsletter. We help you make sense of news jargon and keep you up-to-date, especially with election news. Make the subscription of a lifetime here.
One day, you’re wondering where to find the shortest fuel queue. The next, central bank decides to change its currency, fix a short deadline on old notes, then goes ahead to make the new notes scarce and force everyone to go cashless.
I didn’t think it’d be an issue really, until my bank started acting like the weapons fashioned against me, and I couldn’t even go cashless in peace. So, I tried to survive on only ₦500 cash at handfor two weeks, and I’m still alive. It’s very likely you don’t have cash too — or you don’t have enough for the necessary small transactions — so let me teach you how to survive this period.
Stay at home
Whoever invented introverts knows ball. I’m not much of an outside person, but this period has further taught me the wisdom of sitting at home and eating whatever I have in my kitchen. If work makes you leave your house every day, I sympathise with you.
Do online transfers for EVERYTHING
When they work, at least. A friend told me how she transferred ₦300 to a pepper seller. Thing is, you won’t know who accepts transfers unless you ask. Ask that okada man for a transfer option today.
Become interested in fitfam
Do you really need to take a bus when you can walk? Do you actually crave shawarma, or are your village people just working overtime? You can always tell yourself you’re pursuing your fitness goals.
Sleep
You can’t spend money while you sleep.
Shop at supermarkets
Since the major problem is cash, do your shopping at places where POS transactions are readily available. Of course, your bank can still disgrace you, but what’s life without a little risk?
Date a POS attendant
Who knows, you might get free new notes as a relationship privilege. Plus, imagine dating one of the hottest set of people in Nigeria right now.
Just give up
Even if you survive the two-week mark, what’s the assurance that the cash situation would’ve improved by then? God, actually abeg.
If you’re a Nigerian and you’ve been able to get the new naira notes (without stress), say hi.
*inserts cricket sounds*
It has been “survival of the fittest” to get Nigeria’s new naira notes. Ever since CBN governor, Godwin “Meffy” Emefiele launched them in November 2022, Nigerians have not been able to get easy access to these notes.
To add to the commotion, a crazy deadline was earlier set for January 31, 2023, for phasing out the old naira notes. But still, no new naira notes were in sight.
However, today is February 1, which is a day after the deadline. Has anything changed? Here are the latest updates we have concerning CBN and this issue so far:
The deadline has been extended to February 10
Nigerians currently have 9 days to stop spending the old naira notes before it ‘expires’. Although Nigerians can still deposit old notes at banks after this deadline, it just would cease to be legal tender.
But there is STILL a scarcity of new naira notes in banks
Most commercial banks in Nigeria have found it very hard to obtain an adequate supply of new naira notes from the CBN. This has produced very frustrated Nigerians who have even fought at Automated Teller Machines (ATMs) in a bid to get the new naira.
Nigerians struggling to get the new Naira notes from an ATM in Lagos
But this doesn’t seem to go down, even with the extension deadline. A teacher, Ebele* in Ajah, Lagos told Citizen about her ordeal with collecting new naira notes from commercial banks as of today.
According to her “As I’ve done for the past five days, I went to five different ATMs close to my place of residence and three of them weren’t dispensing cash at all. The remaining two have only been dispensing money in N100 denominations. Even when I went to Fidelity Bank at Ajiwe, they were only able to give me up to N5000 in N100 and N20 notes.
A software developer based in Abuja, Favour* told Citizen that he has gone “completely cashless” since the naira note scarcity started.
“I can remember the last time I used an ATM on January 14. On that day, I went to the Guaranty Trust Bank branch in Kubwa for almost five hours to ‘cop’ my new naira notes. Only for me to reach my turn and these naira notes had finished, both in the bank and everywhere. Since that day, it’s only cashless transactions I have been making with my bank app.”
But even mobile banking apps are having issues
For the past couple of days, many Nigerians like Favour have been going the cashless route via mobile app and USSD transactions, but even that hasn’t worked out.
Popular commercial banks like Guaranty Trust Bank (GTBank), United Bank for Africa (UBA), Zenith bank and even digital banks like Kuda have had complaints from several customers. This is concerning their inability to make transactions on the respective bank apps, amongst other issues.
I have been having some issues with withdrawals and cash transfers since yesterday on my account. The issue is the withdrawal limit placed on my account.
Besides, I am unable to sign in to my dashboard on the bank app.
Gtbank did me shege today. POS declined my card, Couldn't transfer cos app was showing invalid details, USSD wasn't working too. Thankfully my heritage bank became my saving grace. See eh, e dey always good to have back up for everything in case of necessities. pic.twitter.com/OWErhi9Orx
According to a source from Fidelity Bank at Ajiwe, Ajah, these sets of people are heavy contributors as to why the new naira notes are so scarce.
“Most times, these POS operators come in through the back of the bank premises very early in the morning (before working hours) and are able to withdraw the already scarce new notes in high volume. The banks also need the money too so they can’t refuse.” the source said.
Money changers are also not left out. In a viral video released on January 30, large volumes of new naira notes were sprayed at a wedding, which makes one wonder — are the new naira notes really scarce, or are they hoarded?
One thing Nigerians can agree with for sure is that Meffy certainly needs to provide an effective means of supplying the new naira notes nationwide, otherwise things could really start to get ugly.
We write the news and track the 2023 elections for citizens, by citizens in our weekly newsletter, Game of Votes. Make the subscription of a lifetime here.
Here’s what it is, how it works, and how it benefits YOU.
What is the cash swap programme?
In the programme, any Nigerian can either go to Deposit Money Banks (DMBs), Mobile Money Operators (MMO) (aka your “POS” plugs), and super agents (companies licensed by CBN for the purpose of agency banking) to exchange the old notes for the new. These old notes are in the denominations of ₦1000, ₦500, and ₦200 notes.
How will the programme work?
News flash — this isn’t a means to dump your entire cash savings to be changed. Each person only gets to deposit a maximum of ₦10,000 with an agent to be changed.
However, if you are an ‘Odogwu’ with more than ₦10,000 at home, the cash will be deposited in your online wallet or bank account. In that case, the Bank Verification Number (BVN), National Identification Number (NIN), or Permanent Voter’s Card (PVC) details of the customers will be captured as much as possible.
But don’t expect this programme to be done for free. CBN has permitted agents to add their profit in the form of “cash out fees” to all cash swap transactions.
How will this benefit you?
As much as it may suck to have to pay additional fees to collect new notes, it also has some benefits. The new notes are not only at the mercy of your legacy banks alone. It can also be collected via accredited POS operators, which is an easier channel for money distribution. It will also help people living in rural areas where banks are not as accessible.
If you don’t have a bank account or wallet, then this is the perfect time to acquire one too. Agents would set up bank accounts using CBN Tiered Know Your Customer (KYC) Framework. This will ensure that you are able to exchange or deposit your cash seamlessly without taking unnecessary risks or incurring undue costs.
After all this, what are you waiting for? Check out these CBN-accredited DMBs and MMOs today and get your new naira notes! Remember, time is ticking.
What if I told you that since the Central Bank of Nigeria (CBN) released the new naira banknotes on December 15, 2022, I’m yet to get my hands on them? This is a subject I write about frequently and even I have only ever seen them once physically.
As it turns out, there are many Nigerians like me who haven’t seen them either. This is abnormal because according to the deputy governor of the CBN, Aisha Ahmad, 500 million pieces of the new notes were ordered. It’s also alarming because the old notes will no longer be recognised as legal tender by January 31. So why are the new banknotes so scarce?
No more over-the-counter withdrawals
To start with, the CBN on January 7, ordered banks to stop giving the new notes to customers over the counter. Anyone who wants to go to the bank to exchange notes shouldn’t bother anymore.
The exact reason for this policy change wasn’t stated but one possible reason might be fears that the new banknotes are being hoarded. Instead, the CBN directed that banks load their ATMs with the new notes for customers to withdraw. But that has created another wahala.
ATM machines don’t recognise the new banknotes
According to Punch, one challenge that the new naira banknotes bring is that the ATMs don’t know them.
Banks are having to reconfigure their ATMs so they can recognise the new naira banknotes.
Apparently, one bank claimed that only one denomination was accepted. This forced banks to mix up new notes with old ones which if we’re honest, defeats the purpose of the policy.
One economic expert believes the CBN is not forthright on exactly how much new notes have been printed because it would have to explain how much it cost to do so. For comparison, the CBN in 2021 spent ₦58.6 billion to print 2.5 billion naira notes. Assuming constant cost — which is impossible — that’s around ₦12 billion to print the 500 million new notes.
What is being done to address these issues?
The Nigerian Senate on December 28, urged the CBN to extend the deadline for phasing out old notes from January 31 to June 2023. The CBN doesn’t send the Senate. It maintains that the deadline won’t be extended.
While the CBN and the Senate are playing a game of who’s who, please don’t slack. The deadline ends in exactly three weeks. Maybe between now and then some of the challenges are resolved and the new notes fully circulate. Or maybe the CBN backs down and extends the deadline. We’ll continue to observe how things play out.
On December 15, 2022, the Central Bank of Nigeria (CBN) officially released the new naira banknotes to the Nigerian public. And like the superstars these new notes are, Nigerians feverishly looked forward to receiving them from the ATMs and bank counters. But just like waiting for a superstar Nigerian artiste at a Detty December concert to perform on time, Nigerians ended up disappointed.
Some of the people lucky enough to get these new notes couldn’t get more than ₦2000 at a time. So why exactly are these notes playing hide and seek with us?
Banks don’t have enough of them
CBN governor, Godwin Emefiele, wants to create a cashless economy by encouraging electronic payments, so the bank didn’t print these new notes in large quantities.
As a result, the new notes were rationed between banks, and some are even still waiting to get their quota.
Some ATMs can’t recognise the new notes
You might still get old notes from ATMs because many of them haven’t been reconfigured to recognise the new naira notes. Until this is done, the circulation will remain slow.
Some people want nothing to do with the new banknotes
Some people are scared of change, and we can’t blame them because Buhari promised us change yet look where we are. One of the easiest ways for money to circulate is through everyday transactions. But Nigeria’s informal sector is yet to fully embrace the new notes and some even rejected them on the day they launched.
Meffy has already threatened warned us that the old notes will become outdated from January 31, 2023, but the government needs to solve the problem of circulation first.
The long-awaited day is finally here. Today, December 15, 2022, the Central Bank of Nigeria (CBN), under Godwin “Meffy” Emefiele’s orders, will publicly release new naira notes for the ₦200, ₦500 and ₦1,000 denominations.
We spoke to some Nigerians about their thoughts on the new banknotes and asked one question, “What’s the first thing you’ll do when you get your hands on the new naira notes?”
Here’s what they said.
Damola
My friend went to the bank yesterday to withdraw a lump sum of about ₦300k. The bank gave him the new naira notes and I was fortunate enough to see them this morning. The notes are average. It’s just as if they went to put filters on them. I prefer the old notes, seriously.
On what I’m going to do with the new notes? Well, it’s just for spending. Everyone needs cash now since Christmas is around the corner.
Tunde
I run a logistics business so definitely the first thing I’m spending the new notes on is fuel. I’ll also service my bikes and maybe get Christmas items for myself and my family.
Feyisayo
I’m not anticipating the release at all. I think I’ve overgrown the thrill of acquiring new naira notes probably because the value of the currency is nothing to be happy about. I’m not looking forward to it. I’m a little curious to see how they look but beyond that, no extra feelings at all.
Still, if I get my hands on the new notes first thing I’ll spend them on? Probably transport fare and then groceries.
Karina
I’ll keep them in my purse and laugh out loud. For sentimental reasons, I’ll hold on to the new notes. I’ll probably not spend till the old notes are out of circulation. Besides, there’s no difference between the old and new notes — just shades of colour. How are we sure that when the new notes get dirty and start fading they won’t look like what we currently have?
Toluwani
I’ll take a picture of them and send to my family group chat.
Victor
I’ll stare at them so as to recognise them physically and differentiate from counterfeits. But I think I’ll still use the old naira notes until they’re completely phased out. I know there’s a risk that banks won’t accept old notes after some time has passed but I’ll still keep mine.
People can be somehow. You may offer someone the new notes and they’ll say they want the old one. Some don’t even know the old ones have expiration dates. This delays transactions. So I’ll still have both. If I’m going out for example, I could have ₦4k old and ₦4k new — just to be safe. I don’t want to be fully dependent on the new notes because I don’t know if they’ll be generally accepted.
Deborah
Touch them to have a feel. Did the texture change? Or is it just the colour that was changed? I’ll take a closer look too. I’d most likely keep them until next year, because I’m not sure conductors or drivers will collect them yet. So to be safe, I’ll definitely not spend them until next year when I’m certain that’s what everyone is using.
Timi
Naira is useless, so I’ll basically spend them lol. I’m a collector of notes so I’d keep the old ones alongside the other currencies of any country I’ve visited as reference. I’ll also make sure to break them into change so I can see the various redesigns in their different types. First thing I’ll spend on? Either food or a hangout since it’s December.
Chiamaka
I’d most likely not spend them until it’s necessary — possibly on transport or food or some other necessity. Oh, and take pictures of them and post on my status, lol.
Niyi
I’ll take a picture of them and most likely spend them on fuel. I have no issues with the policy to be honest. I just don’t use cash much but for the people who pack my dirt and clean my office, I pay them in cash. They might not be fully informed about this policy so that may be interesting to see. I’ll probably give them the new notes and tell them about the new policy. Cue the weird looks and questions like “Oga, wetin be this?”
Abisola
I’ll hold them in my hand to get myself familiar with their new features and differentiate them from fakes. I won’t spend them immediately, but keep them for like three days. Because I’m not ready to buy fish by the roadside and have to start explaining that the new denominations are legit.
