Inadequate New Currency Cripples Economy, Merchants Cry out in Jigawa

Image: Map of Jigawa state

By Salisu K Ismail 

Commercial Activities has been paralyzed in Jigawa state as people's spend days on cues to withdraw money from ATM while old notes are been rejected ahead of Central Bank of Nigeria (CBN) deadline.

It's observed that, Local markets, traders, food vendors  other small and medium business are virtually shutdown which consequently thrown families into untold hardship.

Going round the state, people  seems confused as no where to get new note to feed their families while many lamented how the CBN policy is unfriendly to rural communities.

Bashir Maidaura, a grain business man, narrated how he spent two days at ATM point to get money for buying  grains at local markets as old Naira notes are no longer accepted there.

Narrating his experience, Maidaura said, "I have been on the cue for two days but only able to get 100,000, while I need two million naira as usual to go to Soro market in Bauchi state to buy rice from local farmers."

"My account is individual, the withdraw limit can not give me access to the amount I needed, while my business partners (local farmers) have no bank account and literacy to accept transfer, so we are all in unprecedented delimer, " he declared

Saifullahi Ibrahim of Kudai town, Dutse local government who was found standing at ATM cue very exhausted and  furious as he sent more than 12 hours without getting the new note to feed his children". 

"This CBN policy is very disgusted, unfriendly and unfair to us Electorates who voted this APC government into power."

"The new Naira note is not even available, I don't have it, for three days now I can not feed my children talkless of paying their daily transportation fair to school, please Baba Buhari we beg you in the name of God to reconsider the extension of the deadline for old Note" Saifullahi stated. 

Newskeeper gathered that, only ten local government out of 27 in the state have functional Banks in the state, the rural communities are grown in to untold hardship as they lack access to any financial institution for exchanging their old note with new ones.