Wia di new naira notes dey, who dey hold am? Wetin we know

Di monetary policy wey di Central Bank of Nigeria initiate to bring new naira notes don take effect.

Di policy take effect on 15 December 2022 wey pave di way for di phasing out of di old naira notes.

Since di introduction of di new naira note into di system many Nigerians neva get access to di money.

Nigeria na a kontri of 220 million pipo according to di latest world population figures - e dey easy to say na only very small percent of di population don see or even begin spend di new money.

"I monitor five banks for Abuja to see dia level of compliance wit dispensing of new notes ATM withdrawal and I fit tell you wit my full chest na old notes dem still dey give out," one bank user Josephine tell BBC News Pidgin.

Dis na wetin many oda pipo don tok. However e get anoda set of pipo wey don see and spend di new naira note.

Tori be say di new note wey di kontri highest bank print no dey enof - CBN go later explain why di situation dey like dis.

Nigeria central bank officially introduce di newly redesigned naira notes on Thursday, 15 December 2022 across di kontri.

Despite di scarcity, officials say di new ₦200, ₦500,and ₦1000 notes wey dem introduce go dey very difficult to forge.

While both di two notes - old and new - go still dey valid for now, Nigerians get until January 31 to exchange dia old naira notes before e expire.

Di notes wey currently dey in circulation na ₦5, ₦10, ₦20, ₦50, ₦100, ₦200, ₦500, ₦1000. 

Aside dis newly redesigned bank notes, di apex bank also introduce new weekly cash withdrawal limit.

Many ATMs still dey give old notes

Di new naira notes also dey scarce for banks automated teller machines (ATMs)

Our tori pesin visit some ATM machines for random locations wey belong to three different banks for Ikoyi Lagos, Nigeria commercial capital and na only one of di machines dey dispense di new notes.

Apart from say na one out of three ATMs dey dispense di new money - di money wey di machine dey bring out na only di 1000 naira denomination.

For Lagos mainland, our tori pesin visit anoda set of ATM machines wey belong to different banks, none of dem dey dispense di new notes.

One of di bank attendants wey tok to BBC News Pidgin off camera say dem get new notes inside di bank but dem neva begin put dem for ATM machine, say "na only for behind teller e dey for now".

'Wetin Nigerians get na foto of di new money'

Naziru Medile na POS operator for Kano state Northwest Nigeria wey say im neva see di new naira notes.

E tell BBC News Pidgin say like most Nigerians na just foto of di new naira notes e see for social media but im neva use im hand touch am.

Naziru yarn say customers dey ask am for new notes wen ever dem come collect money but e dey tell dem say im too neva see or touch am uptil now.

“E dey somehow for customers to dey ask of new notes and for me to dey tell dem say I neva see or touch am, for my mind I dey even doubt if dis new notes na for real," e tok.

Di POS operator add say “anoda tin wey dey disturb my mind na say POS like me dey withdraw huge money keep for pipo to come withdraw from us e fit lead to huge losses for us wen old notes deadline expire since na old notes we get uptil now."

Naziru say im dey beg goment through Central Bank of Nigeria to make di new notes to circulate well and available for pipo to use.

Di new naira notes dey scarce - Bankers

Bankers for Port Harcourt, Southern Nigeria say dem don begin implement di Central Bank of Nigeria (CBN) directive not to pay di new naira notes over-the-counter but na only for ATM machines pipo fit get am.

One banker wey tok to BBC Pidgin say di challenge dem get na say di new naira notes dey scarce but di ones dem dey get dem dey take load for dia ATMs.

"We no dey pay over-the-counter wit di  new naira notes, but we dey load am for ATMs.

"Di tin be say e dey scarce so na as we get we go dispense na im make some ATMs still get di old notes.

"But we don begin comply wit CBN directives say make we no pay di new notes over-the-counter so as we get we go pay.

Di deadline na 31 January so make we see how e go be. Hopefully by dat time, we go see more of am."

'CBN no print enof new naira note'

Public affairs analyst Muda Yusuf wey follow BBC Pidgin tok say even if citizens no get data of how dem dey print di moni, e dey obvious say CBN neva print enof moni wey go fit meet demand.

Di reason according to di analyst be say if supply no get issue, scarcity no go dey.

E add say if enof moni dey, hoarding go get limit even if anybodi wan do so.

“Di Nigerian minting and Printing dey Lagos, if Lagos pipo get issues wit scarcity you go fit imagine wetin dey happun for oda parts of di kontri”.

Oga Yusuf say di major problem na di adequacy of di moni wey dey produced anoda tin na logistics sake of di moni suppose dey for evri part of di kontri and no be only for state capitals.

“CBN under estimate wetin di process require and di only way out na to extend di deadline”, Muda Yusuf add.

Oga Muda further tok say many citizens right now dey face di risk to loose dia money completely as dem fit no dey able to exchange old notes to new ones if tins kontinu di way e dey now.

E say di danger wit di short deadline be say e fit affect economic activities especially for small scale businesses and pipo wey dey rural areas, di informal sectors and even trading within di sub-region.

'We get enof new naira notes'

Inside all di complain and observations by Nigerians di Central Bank of Nigeria maintain say di new naira note full evri wia.

Abdul Isa, toktok pesin for CBN say dem don distribute di new money to all di banks wey dey operate for Nigeria.

E say di only challenge na say pipo wey dey return plenty old money dey always wan get di same amount dem return in new money.

Isa say e no make sense say pipo dey wan force banks to give dem new money wey go dey detrimental to di monetary system.

"We get enof supplies in line wit di indent for di period," e tok.

E add say, "di report wey we get na say some pipo dey wan swap di amounts Dem get, wey be di reason for designing di new naira note.

"For instance, a customer bring in 2 million Naira in cash and expect to get di same volume in di new currency.

"If di banks accept such requests, di problem of excess liquidity go kontinu."