Human Rights

Human Rights group queries CBN over scarcity of new Naira notes

By Blessing Enechojo Abu

Human Rights Writers Association of Nigeria (HURIWA), through its National Coordinator, Emmanuel Onwubiko, has issued a statement querying the apex bank, the Central Bank Of Nigeria over the scarcity of the new naira notes.

This is coming a few weeks to the deadline for the validity of the old notes and banks’ continuous circulation of the old naira notes.

The new notes which were launched on December 15, 2022, seem to be scarce across the country as even banks continue to pay out cash in the old notes.

HURIWA’s National Coordinator urged the Economic and Financial Crimes Commission (EFCC) to go after those who engage in hawking the currency or hoarding the said notes.

He also accused banks of aiding currency hawkers who sell the new notes to partygoers at black markets.

“About three weeks after the release of the redesigned N200, N500, and N1,000 banknotes by the CBN, millions of Nigerians, even those in cities like Abuja, Lagos, Port Harcourt, Kano, and other places are yet to see or touch the new naira notes. The situation is particularly worse in remote places and villages.
“Whereas black marketers, politicians, and expatriates continue to get access to crispy naira notes, millions of ordinary Nigerian bank depositors are denied access to the new notes despite the approach of the deadline of January 31, 2023,” he said.


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