New Naira Scarcity: PH Entrepreneurs Divided On CBN Decision

As access to the new Naira notes continue to dwindle, entrepreneurs in Port Harcourt (PH) have been divided on the workability of the process in promoting the interest of their businesses.
Some of the entrepreneurs who bared their minds in a chat with The Tide in PH, said the number of closed shops was increasing on daily basis as people are scared of collecting the old naira note without spending them.
A Point of Sale (POS) operator, Mrs. Goodluck Uchemadu, said she had been frequenting the bank to get the new notes without success.
“I almost slept in the bank yesterday to make withdrawal. The crowd was too much and l still came back empty. The people that withdrew, got old notes which was making the whole change issue frustrating.
“Central Bank of Nigeria (CBN) should have taken everything into consideration before venturing into it, not to talk of the deadline. Even the 10 days extension will not do anything because the notes are not in circulation.
“Their intentions are good but they should make the money available to individuals and business men and women.
By now all the banks’ Automated Teller Machines (ATM) are supposed to be giving out the new notes”, she said.
Another entrepreneur, Mrs. Chinyere Dennis, who deals on chemicals, said, “though CBN wants to frustrate those fraudulent politicians, which is good, but they should do it in such a way that it will not affect the innocent citizens of this country.
“Many shops are closed and even those that are open will greet you with ‘l no de collect old money’. I think CBN Governor has a lot of work to do for the goals of the new notes to be achieved”.
In his contribution, Mr. Jude Uchenna said there was nothing good about changing the naira, adding that the quality and colours of the new notes are not even attractive.
“They are only doing this to rig election. They will make the money available for their party and monitor the amounts other people are using.
“In this country, the leaders only do the things that will favour them. They do not have the interest of the masses at heart”, he said, adding that his shoes business has gone down because they are changing money.

By: Lilian Peters