Oil Marketers Fume Over Banks Rejection of Old Naira Notes

Punch Newspaper

Oil marketers have threatened to close their filling stations in protest against the rejection of old naira notes by deposit money banks across the country.

It was gathered that the banks issued circulars to some of the filling stations, urging them to stop accepting the old bills, as the DMBs would not collect them from marketers.

This followed the controversy about whether the Central Bank of Nigeria would phase out the old naira notes on February 10, as traders and other retailers also rejected the old currencies.

Sunday PUNCH gathered that many traders in the Federal Capital Territory, Ogun, and Lagos states had started rejecting the old N1,000, N500, and N200 notes. The traders claimed that old notes collected from sales made were rejected by banks on Friday morning.