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Following the continued refusal of financial institutions to issue the new naira notes amid trading of the notes and now totally refusing to accept the old currencies, traders across Anambra State have shut down government-owned markets in the state, to protest the anomaly with regard to financial crunch.
The Nkwo Nnewi Market, the Nnewi old and new automobile spare parts market, Nwugo market, fairly used motorcycles market, popularly known as Nwagbara Market, among others were closed as traders protested the conflicting directives over naira notes.
Most of the banks in Nnewi, elsewhere and some private businesses did not open for business for fear of attack by angry customers or protesters, Daily Independent had reported.
The CBN governor, Godwin Emefiele, had said February 17, 2023, was the deadline for the return of the affected old naira notes and at other times said the money would be in use.
President Muhammadu Buhari had in his latest address said N200 notes would be legal tender till April 10, while N500 and N1000 notes should be returned to the bank.
Banks had since the issuance of all the directives, even against the Supreme Court order, continued to issue their customers with the old naira notes in small quantities and allegedly doing so at negotiable prices of N2000 and above while partnering with POS operators who sell the money at N5000 and above depending on the quantity needed by the customer.
Businesses had since been hampered due to the new naira issue while traders in Anambra had stopped accepting the old naira notes, an action that had increased suffering in the state.