Redesigned Naira Note: Students decry hardship

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By Gideon Timilehin Oni 

Students of Kwara State University Malete have continued to decried the hardship caused by the scarcity of new naira notes.

According to reports, the new naira notes has become so scarce that they hardly get money to carry out their daily transactions.

Students trekking to school

The situation is made worse with the non- existence of commercial banks in Malete, a host community of the university as the major source of financial transaction is the Automated Teller Machines (ATM) and from Point of Sale (POS) Agents.

With the scarcity of naira notes on ATM Machines, POS agents now take advantage of the situation by charging as much as Two hundred naira (N200) for a thousand naira (N1000) withdrawal.

Speaking with Highprofile,  a 400L student of the university, Joshua Ogunyemi, who expressed his displeasure on the current situation , called on the government to provide solution to the scarcity of the new naira notes. 

“I think the issue is actually as a result of the scarcity of new naira notes. Despite the extension of the deadline by the Central Bank of Nigeria for the exchange of old naira notes, scarcity of new and old naira note worsened.”

Ogunyemi further said that despite CBN’s statement insisting that there is no scarcity of new notes in banks, citizens still find it hard to access it”.

Students now find it hard to get money for transportation, feeding among other activities.

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