• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Tuesday, April 14, 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

TMSG to ADC: You are a motley crew of power mongers, palace jesters

NLC’s insistence on eating the seed and expecting a harvest is a metaphor for an absurdity

Why Nigeria must use oil windfall to build a more resilient economy – 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

TMSG to ADC: You are a motley crew of power mongers, palace jesters
Economy/Technology

TMSG to ADC: You are a motley crew of power mongers, palace jesters

April 6, 2026
NLC’s insistence on eating the seed and expecting a harvest is a metaphor for an absurdity
Economy/Technology

NLC’s insistence on eating the seed and expecting a harvest is a metaphor for an absurdity

April 3, 2026
Presidential aides hail IMPI’s boss, Akinsiju at 63, commend his role in advancing Nigeria’s reform.
Economy/Technology

Why Nigeria must use oil windfall to build a more resilient economy – IMPI

March 30, 2026
Tanzania, Australia firms sign $667m deal to mine rare earths
Economy/Technology

$1.3bn landmark FG/AFC Alumnia deal, transformative economic booster–TMV

March 7, 2026
Eulogising Africa’s efforts in midwifing a Covid-19 vaccine
Economy/Technology

Injection of N98bn in 13,500 Centres will Boost Primary Healthcare Nationwide – Group

March 7, 2026
CAC, Pakistani investors on economic diversification
Economy/Technology

Progressivism: The Place of Ideology in Tinubu’s Management of Nigeria’s Economy

March 1, 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

Yobe state,  Egyptian firm in deal to establish meat processing factory

Yobe state, Egyptian firm in deal to establish meat processing factory

June 12, 2022
“Naira-4-Dollar” getting results

Naira gains at investors, exporters’ window

July 13, 2023
NECA on how to address Nigeria’s economic challenges

NECA urges FG to set up Committee on national minimum wage

January 18, 2024

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

  • TMSG to ADC: You are a motley crew of power mongers, palace jesters
  • NLC’s insistence on eating the seed and expecting a harvest is a metaphor for an absurdity
  • Why Nigeria must use oil windfall to build a more resilient economy – 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