Coping With The Scarcity Of The New Naira Note And The Extension Of The Deadline

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(Edited)

For the past few days, I have been very careful not to have excess old naira notes I won't be able to spend before the initial deadline on the 31st of this month.

My transactions have been mostly through the online mobile app. Most sellers in my locality no longer collect old notes. Yesterday we almost went to bed with hunger when the mobile bank's network was so bad that we could not transfer to those provisions stores. Our saving grace was our good customer relationship with them so that we could shop for groceries and pay today when the app network gets better.


And today I had to visit the main market closest to us before I could shop for our monthly food items, as those in my area do not want old notes.

Only when I reached the market I was told that most of the sellers are not collecting bank transfers as they fear that their networks are not reliable. Only the good thing is they still collect the old notes, that was how I was able to do my food shopping today.


Interestingly, by the time I got home, the news of the extension of spending the old notes broke out. The exchange of the old notes for the new ones has been extended to the tenth of February. Hmmmmm, why now? after putting the masses through lots of hardships. This is a question for the CBN Governor and his team I think.

I think the extension is very much necessary as the new note has not been circulated at all. This will give the CBN adequate time to make sure the commercial banks have enough new notes to load their ATM. People are complaining bitterly about how they could not access the new note through the ATM as of today. All the POS operators I have spoken to, share the same tales of how they found it extremely difficult to have access to the new naira notes after depositing the old ones.

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People also seem to forget that even after the deadline one can still deposit the old note to the CBN in exchange for the new notes only that one can no longer spend it as a means of exchange for goods and services.

After all the stress in the market shopping for our monthly foodstuffs, I guess I deserve to prepare my favorite vegetable rice as a kind of well-done girl.

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We now have 12 days to the last deadline and I hope that before that time we Nigerians can carry out our various naira notes transactions without the fear of being caught up with the deadline. The inflation is hitting hard enough, we cannot afford more suffering.

If you are a Nigerian reading this, how are you copping at your end?

POS image source and the rice image is mine



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26 comments
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we could shop for glossaries

I think taskmaster and his leoglossary has got to you 🤣

Seriously though this is the shits and I know lots of Nigerians and this is just another test in the fluffing long line of tests you have to endure.

I thought when I worked there that your officials would sort the country out with all the oil revenue. Seems it never stopped being corrupt and they just fuck you all over time and time again :(

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I think taskmaster and his leoglossary have got to you 🤣

Hahaha😂 thank you for pointing that out, don't mind me, Jr is getting most of my attention these days and is telling on me but I can't complain he makes me very happy and fulfilled.

Do you mean you have been to Nigeria before?

The corrupt system never changed at all, the few politicians kept on stealing our oil money and left us to suffer and sort ourselves out.

This money redesign thing is supposed to stop the politicians from spending their stolen funds in the coming general election, we are hoping the aim is achieved and not just another cruise by them.

There are too many loopholes in the system and until a system is put in place that discourages corruption our story will be the same sadly.

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Jr is getting most of my attention these days

Oh I know he does, I feel left out🤣 haha I am kidding, it is great you manage to sleep and hive what with his keeping you up at all times habits!

Do you mean you have been to Nigeria before?

Uhuh I worked in West Africa in the oil industry was in Nigeria for a couple of years.

We found out that for every five barrels of oil, one money wise would be wasted with corruption, so imagine that, even before anything was done, corrupt officials pocketed 20% of all oil revenues!

Fluffing shocking!

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it is great you manage to sleep and hive what with his keeping you up at all times habits!

If someone tells me I could be this sleepless I will never believe such a person. I use to love sleep like I love life but now I love my baby more !lol As a first-time mom, I'm still learning how this work.

My mom has gone back to her house, is just me now attending to him, hubby is out most of the day with work. But helps out when he is around.

His gramma will be visiting us by March I'm not sure if she will stay long but at least she will help with him for the time being.

Until then I'm learning to be a super mom. Hahaha.

We found out that for every five barrels of oil, one money wise would be wasted with corruption, so imagine that, even before anything was done, corrupt officials pocketed 20% of all oil revenues!

You can just imagine that, the rot in our system is just overwhelming and until we do something about it there is no hope for the masses.

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I'm still learning how this work.

Don't expect that to stop ever🤣

You are going great, and I love that I see you on here at all hours of the day! Ah your mum had been with you, oh I am sure you will miss her hehe and I hope gramma helps!

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Don't expect that to stop ever🤣

Hahaha, so I heard

I love that I see you here at all hours of the day!

You know, When he is not taking my time or I'm not doing any housework, I'm always thinking about how I can grow my hive account😃.

Ah, your mum had been with you, oh I am sure you will miss her hehe and I hope gramma helps!

My mom was here for the first three months, and it was amazing as she was very helpful, his grama will be of great help, we talk every day and she can't wait to be here.

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Hahaha, so I heard

haha and what does that mean!?!

ah that was sweet of your mum. Am sure it will be fine AND you will grow that account of yours!

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haha and what does that mean!?!

Parenting just like life is a continuous learning process.

Thank you very much uncle T, and good morning to you. I guess it is still morning at your end.?

I have been getting this message each time I try to transfer @ecency points do you have any idea what I'm not doing right?

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From where you got this hivesigner link for transferring? Usually you transfer points with custom_json operation.

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Tried through the ecency app and it directed me to use hive signer. Usually, when I do this it will go through.

Please what is custom_json and how do I use it?

Thank you a lot for your quick response.

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Good morning fun hehe yes I am only an hour behind you!

I just do on laptop here ...

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I was using phone, I will try using laptop later.

Thank you !luv

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I even read somewhere that people in some villages have no idea about the new notes. Imagine finding out later that the money in your kolo is no longer valid.

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Hehe he, that will be a painful loss.

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@funshee this cashless economy stuff is crazy.. See wahala now..You have money but you can't spend it. Are you sure that one can still deposit the old naira note after the deadline? Won't you be at a loss by doing that.. Cuz me right now, going to the bank is scary..The crowd, hmmm.

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Are you sure that one can still deposit the old naira note after the deadline?

Yes, but only with the CNB which will even be stressful and expensive.

This policy is causing a lot of suffering presently, both the old and new notes are not in circulation.

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