Follow Us on Google
Residents of Osun State are at crossroads over the policy of the Central Bank of Nigeria (CBN) to end the usage of old naira notes of N200, N500, and N1,000.
Some banks visited by our correspondent in Osogbo, the state capital, on Thursday, are still issuing the old naira notes. Some customers avoided ATMs that dispensed old notes to make withdrawals over the counter, but they were also issued the old notes inside the banks.
Some traders refused to collect the old naira notes from customers in apparent fears that the expiration may catch up with them. Our correspondent observed that there was a rush by customers to deposit the old notes as the Central Bank of Nigeria said the January 31 deadline remains sacrosanct.
Long queues were observed both inside the bank and ATM galleries in some of the banks visited.
•
