Page 49

Page 49

Letter to the Editor

Shortage of low naira denomination

All over Nigeria the problem of ‘I no get change’ is a daily occurrence, from the road side hawker, to the bus conductor, market women, supermarkets, etc. everyone is crying out for the lack of availability of the low denomination of the Naira, specifically N5, N10 N20 and N50 notes, these are all polymer banknotes which were introduced in 2007. Though in civilized climes coins are acceptable as means of exchange in Nigeria the reverse is the case as their usage has since gone extinct.

From Lagos to Kano, Anambra, Rivers States as well as the FCT, in fact, in public buses, markets and most business transactions in Lagos and some other cities in the country, “make sure you hold your change,” is now commonly heard. The scarcity of the these set of naira notes became obvious following the decision of the Central Bank of Nigeria (CBN) to change the polymer banknotes to paper money and has continued to make it very difficult for operators of micro-businesses, artisans and some other forms of businesses to effectively carry out their businesses.

While we continue to question the source of supply of mint currencies of the same scarce commodities to hawkers, we urge President Muhammadu Buhar and the new ministers of finance to urgently address the problem. Esther Egga, Jalingo, Taraba State

Text Messages

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It is good for the PDP. After all when the going was good they ignored Mallam completely even though he was a founding member of the party. Thank God Mallam is now able to pay them back the way they shunned his opinion on the issue of zoning in 2011. Y.M. Damagum Ph D 08077545040

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