Some operators of Point-of-Sale machines (POS), traders and Katsina State residents are calling for the circulation of more new naira notes, less than four weeks to the deadline on using the old ones.
An investigation in Katsina on Sunday reveals that some of the residents are still using the old currency notes because the new ones are few in circulation.
Recall that the CBN had earlier set aside Jan.31, as the deadline for using the old naira notes.
The Central Bank of Nigeria (CBN) redesigned N1,000, N500 and N200 naira notes as part of efforts to reduce high money in circulation.
Mr Mohammed Ali, a POS operator and a recharged cards seller said that customers were still bringing old notes to deposit.
He said there was a time he went to his bank purposely to get new notes but was given old ones.
Ali urged the CBN to do the needful as quickly as possible in order to avoid throwing people into hardship.
Another POS operator and a trader, Mr Mohammed Usman, confirmed that customers still transact business with the old note but expressed optimism that the CBN would provide the new notes before the deadline.
Also, Malam Nasir Abdullahi, a resident of the state said that even the Automated Teller Machines (ATM) dispensed old notes.
He said that the situation would affect the poor, particularly small scale business operators, hence the need to tackle the issue.
Abdullahi said that the naira notes redesigned policy was good, but added that inadequate supply of the new currencies could affect its effective implementation.
Other residents also stressed the need for the CBN to ensure adequate supply of the new naira notes to financial institutions before the deadline.
Meanwhile, the CBN and experts believe that the measure will go a long way in checking inflation being experienced in the country.
However, the CBN on Friday directed deposit money banks to load the new naira notes in their ATM with immediate effect.
