January 31 deadline: Family rejects old naira notes for bride price in Niger


It was a dramatic scene at a traditional marriage ceremony in Gbako Local Government Area of Niger State when the family of a bride-to-be promptly rejected the old N1,000 and N500 notes presented as the bride price by her suitor’s family.

The bride’s family took a serious stance that they were not ready to buy some of the things required for the ceremony and did not have a bank account to deposit the money and demanded for new naira notes because of the January 31 deadline issued by the Central Bank of Nigeria, CBN, as

A family member of the suitor said: “We took money to the family of the girl we want to marry. They called me on Sunday to come and take the old currency notes back, pending when we have the new naira notes.

“They said they don’t have anywhere to change the old notes. So, I want to take it to the bank, pending when we get the new notes.”

Recall that many business operators in Sokoto State and other parts of the country had refused to collect old naira notes from customers.

According to vanguard, motorcycle operators, also known as ‘okada’, rejected the old notes from their customers.

A resident of the state, Atiku Abdulrafiu, who spoke to our correspondent, said: “I was in the bank today (yesterday) to withdraw, we withdrew N580,000 and do you know what? All the money given to us were old notes.

“We requested new notes but to our surprise, they said no new note is available. Now, how can you imagine that the same money is being rejected by traders and business people in the same state.”

He explained that as of today, most banks in the state still paid customers with the same old naira notes.

Abdulrafiu, therefore, called on the CBN as well as the Federal Government to find a way to extend the deadline for the old naira notes in circulation.

It was gathered yesterday that banks now refuse to load their automated teller machines, ATMs, with money, saying they had no new notes to load in the machines.

Recall that the CBN had warned banks nationwide last week to stop loading their ATMs with old naira notes.

Six years after their introduction by the Central Bank of Nigeria (CBN), the public has almost lost interest in monetary transactions involving the exchange of N5, N10, N20, and N50 polymer naira notes.


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