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Nigeria: 43.7 Million Adults Yet To Sight Redesigned Naira Notes – NOIPolls

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First with the News

Nigeria: 43.7 Million Adults Yet To Sight Redesigned Naira Notes – NOIPolls

January 26, 2023
in Economy, Top Stories
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Picture of new Nigerian currency

N1000, N500 and N200 notes

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By Ebi Kesiena

A new poll conducted by NOIPolls has indicated that about 43.7 million adult Nigerians, representing 41 percent, are yet to physically see the redesigned Naira notes by the Central Bank of Nigeria.

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This is coming barely a week to the Jan. 31 deadline for the total withdrawal from circulation of the new ₦200, ₦500, and ₦1,000 notes launched on December 15th, 2022.

As a cross-section of Nigerians across the country have lamented the scarcity of the new naira notes, even as the automated teller machines, ATMs still dispense the old notes to customers.

“For instance, news reports revealed that traders at the popular Balogun Market in Lagos have raised concerns over the continued scarcity of the new naira notes despite CBN’s assurance of the availability of the new naira through money deposit banks”, NOIPolls stated.

This response according to NOIPolls cuts across gender, geographical locations, and age-groups with a minimum representation of 97 percent.

“Similarly, awareness on the deadline for when the old Naira notes ₦200, ₦500, and ₦1,000 ceases to be a legal tender was gauged and the poll result revealed that 74 percent of adult Nigerians nationwide are mindful of the deadline.

“On the contrary, 26 percent of adult Nigerians nationwide claimed they are unaware of the January 31st deadline”, it stated further.

With regards to support, majority of adult Nigerians interviewed stated categorically that they are not in support of the January 31st deadline as announced by the CBN. The top three reasons given were; the new notes are scarce and bank ATMs are still dispensing old notes, the deadline is too short and the deadline will negatively affect businesses in the country.
On the other hand, 32 percent of adult Nigerians nationwide are in support of the January 31st deadline and the top three reasons mentioned for their support are as follows; they believe it is government policy and they must comply with it, the policy is good to usher in the new year and that the time is enough for people to deposit their old Naira notes in the bank.

 

However, the pool further revealed that almost all 98 percent adult Nigerians nationwide expressed awareness of the redesigned Naira notes by the apex bank.

The Central Bank of Nigeria has said it will not extend the Dec. 31 deadline to withdraw the old notes from circulation as a legal tender.

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