Poor Circulation Of New Naira Notes Cripples Businesses In Bauchi LG

Dearth of redesigned naira notes in Kirfi, the headquarters of Kirfi local government area of Bauchi State has crippled business activities as most traders and drivers reject old N200, N500 and N1000 notes, LEADERSHIP Friday can report.

LEADERSHIP Friday reports that some shops were closed due to the scarcity of the redesigned naira notes in Kirfi at a time when the Central Bank of Nigeria commenced cash swap in communities in an effort to make the redesigned naira notes available to meet the demands of Nigerians.

A trader in Kirfi, Malam Jibrin Mu’azu said as the 31st January deadline draws nearer, there is an increased outflow of the old naira notes which gave rise to heavy queues in the few banks available in the community.

However, there was a change in the scenario when bank agents under the supervision of the Central Bank of Nigeria arrived at Kirfi and swapped the old notes with new ones for residents who have a sum of N10,000 and below.

Some petty traders who swapped their N10,000 could not hide their happiness and commended the Central Bank of Nigeria for taking measures that eased their suffering.

The district head of Kirfi, Alhaji Lawal Muhammad said the development is a welcome one as there is no single bank branch in Kirfi which makes the situation worse.

Muhammad said he and his subjects have been working day and night to sensitise their subjects on the need to take their cash to banks so as not to lose their hard-earned money.

He appealed to the Central Bank of Nigeria to replicate the gesture in other towns of Kirfi local government before the deadline.

The leader of the monitoring team, Dr (Mrs) Elizabeth Kwaghe from the Currency Operation Department CBN Abuja, said the exercise will continue in all parts of the state to hasten the circulation of the redesigned naira notes.