Naira scarcity: Drama as man storms CBN with N50m old notes in sack bags - NEWS FRONTIER DAILY


Sunday, February 19, 2023

Naira scarcity: Drama as man storms CBN with N50m old notes in sack bags

A Nigerian man has caused a stir in one of the Central Bank of Nigeria (CBN) branches in Kano when he went to deposit N50 million old naira notes.

Recall that President Muhammadu Buhari, on Thursday, February 16, 2023, insisted that the old 1,000 and 500 notes are no longer legal tender.

Following the directive, CBN urged citizens with old notes to visit any of its branches across the federation to deposit them.

CBN insisted that no Nigerian will lose their legitimate money and its office will be ready to collect the old naira notes.

The unidentified man was accosted in a now-viral video, with many asking why he waited this long to deposit his old notes.

The man chuckled as he answered a question presented by the Central Bank of Nigerian (CBN) officials as he marched directly to the CBN headquarters with four men carrying large sack bags.

In response, the man said the money belongs to him and he is a trader in Kano state.

When he was asked why he is just depositing the money now he responded: “I am a trader and sell flour.”

How much do you have here with you, another person asked. “I have 50 million naira cash, It is my money.”

After the video ended at the CBN office gate, it’s unclear if the person was permitted to deposit the N50 million cash.

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