Port-Harcourt traders lament over circulation of mutilated 100 Naira notes

Some traders in Port-Harcourt have lamented over the mutilated one hundred naira notes being circulated.

Expressing their disappointment over the issue to Theportcitynews.com reporter, Tina Stephen, they called on Central Bank of Nigeria to take the money out of circulation.

According to them, government should do something urgently to ensure that new one hundred naira notes are in circulation, stressing that the one hundred naira note currently in circulation is a mess.

The traders also explained that getting one hundred naira note to give to customer as change has always been difficult, adding that customers reject and refuse to collect the mutilated one hundred naira note from them.

Some traders also opined that the federal government should set up a law that will make naira note more valuable and respected across the country like other currencies such as; dollar and pound.

However, some traders advised the public to stop the abuse of naira note saying that the naira is the pride of the nation and should be handled with all form of care.

On his part, South-South Bureau chief of Business Day analyst Ignatius Chukwu, blamed some commercial Banks for not taking the bad one hundred naira note to CBN.

“Everybody is aware that one hundred is scare, commercial banks are suppose to buy it from Central Bank, but the CBN have complained that commercial banks don’t come to buy, in order to avoid paying that money, they recycle the mutilated money.


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