• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, September 3, 2026
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Commercial motor-cyclists reject new Naira notes

Naira

The Matters Press by The Matters Press
May 7, 2023
Reading Time: 2 mins read
0
Experts validate Nigeria’s implementation strategies for success under AfCFTA

Some commercial motorcyclists (okada riders) in Kubwa area of the Federal Capital Territory (FCT) are rejecting the new Naira notes on grounds of alleged counterfeit new notes in circulation.

RELATED POSTS

Finance bill 2027, a wake-up call to free trade zone stakeholders

ATIKU’S FUEL SUBSIDY RESTORATION CAMPAIGN PROMISE FAILS LITMUS TEST OF PRACTICABILITY AND SUSTAINABILITY

Atiku proposal will reduce distributable revenue, constrict cash flow to sub-nationals – IMPI

A number of okada riders operating within the satellite area are afraid that too much of the fake new Naira notes were in circulation.

Mr Salisu Umar, an Okada rider, who was spotted beside Saint Flair supermarket, Kubwa, refused to accept a N500 new note from a passenger, because according to him, the money looked fake.

Umar who brought out an old N500 note from his inner pocket compared the very squeezed old N500 note to the fairly used new N500 note he was being paid by the passenger.
He said that he preferred the old Naira notes and since it was back in circulation he has decided to refuse collecting the new notes, especially the new N500 and N1000 new notes.

Another okada rider, who pleaded anonymity said that he hardly accepted the new Naira note from passengers because the notes got old on time.

“When I put the new Naira notes in my pocket for hours, before you know it, it would look very old once it’s squeezed small.

“ Because of the way our job is I can not be arranging money in my pocket whenever I want to give a customer change,” he said.

An okada rider who identified himself as Ibro, said that he was not totally rejecting the new Naira notes but he did when the note presented to him looked suspiciously fake.

He however said that it was difficult identifying a real note from the fake one with the Naira redesign, adding that most of the new notes looked fake to him.

He said that because the new and old notes were acceptable with more of the old notes in circulation, he preferred to be in possession of the old notes which is the one he is familiar with.

Ibro said that another reason most of his colleagues felt the new notes in circulation were fake, was because Automated Teller Machines (ATMs) and Point of Sale (PoS) were no longer dispensing new Naira notes.

“ So when we see a new note, we suspect its production and this is because we don’t want to lose money that might be identified as fake when we go to buy something,” he said.

A passenger and resident in Kubwa, Mrs Ngozi Ibeh, frowned at the attitude of okada riders who had severally rejected new Naira notes from her.

“I was going to work on Thursday and took okada from my house to Federal Housing Junction where I usually enter car to secretariat.

“ When I got to the junction and gave the man N500 new note to collect N350 change, he refused it and said I should give him the old N100 note he saw with me rather than the N150 he was meant to collect.

“ I was happy he collected the N100 though because I had limited cash on me but for how long will the rejection continue,” she said.

Ibeh said that there was need for okada riders to be sensitised on the Naira swap and its redesign even though there had been reports of counterfeit notes production in some states.

“Unfortunately, we have also heard reports of fake old Naira notes so I don’t know why they are acting this way towards the acceptance of the new Naira notes,” she said.

Tags: Naira
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Japan’s Sumitomo opens third plant in Phnom Penh’s SEZ
Economy/Technology

Finance bill 2027, a wake-up call to free trade zone stakeholders

August 30, 2026
NLC’s insistence on eating the seed and expecting a harvest is a metaphor for an absurdity
Economy/Technology

ATIKU’S FUEL SUBSIDY RESTORATION CAMPAIGN PROMISE FAILS LITMUS TEST OF PRACTICABILITY AND SUSTAINABILITY

August 28, 2026
Southeast, Southwest worry over Atiku’s six-year policy plan
Economy/Technology

Atiku proposal will reduce distributable revenue, constrict cash flow to sub-nationals – IMPI

August 25, 2026
Salvaging basic education from ruins of Boko Haram war in Borno
Economy/Technology

Tinubu’s era most peaceful period in Nigeria’s tertiary education since 1999 – TMSG

August 17, 2026
Economic implications of Niger coup to Nigeria, ECOWAS
Economy/Technology

Military gets pay rise

August 5, 2026
Police nab 233 officers for graft
News

Nigeria marches toward state police

August 4, 2026
Next Post
Nigeria’s Dangote refinery will cut Africa’s petrol import by 36%

At last, Dangote refinery, petrochemical to start production

Privatisation: Osinbajo wants key national assets for serious investors

Privatisation: Osinbajo wants key national assets for serious investors

Recommended Stories

Vulnerable Nigerian farmers to get $1m grant

FG/IFAD LIFE-ND disburses N819.4m, empowers 1,220 youths, women in agribusiness

December 21, 2022
July petrol pump price ranges between N140.80 and N143.80

NNPC increases petrol price as NLC kicks

June 1, 2023
Buhari congratulates Lyon, APC

Buhari congratulates Lyon, APC

November 18, 2019

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Finance bill 2027, a wake-up call to free trade zone stakeholders
  • ATIKU’S FUEL SUBSIDY RESTORATION CAMPAIGN PROMISE FAILS LITMUS TEST OF PRACTICABILITY AND SUSTAINABILITY
  • Atiku proposal will reduce distributable revenue, constrict cash flow to sub-nationals – IMPI

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us