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Currencies; Kano Residents Decry Scarcity Of Small Denominations - Politics - Nairaland

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Currencies; Kano Residents Decry Scarcity Of Small Denominations by NorthernReps: 1:23pm On Apr 24, 2013
Some residents of Kano metropolis on Wednesday decried the scarcity of small currency denominations in circulation in the city.
The News Agency of Nigeria (NAN) reports that the scarcity affects denominations like N5, N10 and N50 the most.
Mr Eze Nwosu, a tricycle operator, told NAN that ``this is causing `wahala' with many people that patronise us.
``This change matter is disturbing our business. Most passengers will not tell you they don't have change until when you drop them.
``It is even worse when you carry passenger to all these GRA's where you will not even see anybody to beg for change."
Malam Idris Muhammad, a trader at the Kwari Market, also urged the Central Bank of Nigeria (CBN) to ameliorate the challenges faced by traders and their customers because of the shortage of lower currencies.
``It is unfortunate that we are having misunderstanding with our business partners.
``The CBN should direct banks to release those currencies since they constitute the largest exchange among the common man," Muhammad appealed.
NAN observed that most of the smaller denominations are old, tattered or even defaced.
The CBN had, over two months ago, said it would increase the quantity of such small denominations in circulation. (NAN)
Re: Currencies; Kano Residents Decry Scarcity Of Small Denominations by maxti: 9:54am On Apr 23, 2016
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