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NAIRA SCARCITY: Igando traders devise new strategy, give condition for accepting old notes

Hawkers even accept old money, but won’t give balance for goods bought.
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NAIRA SCARCITY: Igando traders devise new strategy, give condition for accepting old notes

THE difficulty and frustration brought upon Nigerians as a result of the naira redesign policy have continued to take on various dimensions, as this time, traders in the popular Igando market in the Igando-Ikotun LCDA of Alimosho LGA over the weekend came up with a way of accepting the notes.

Despite the directive given by Governor Sanwo-Olu for Lagosians to keep accepting the old notes, many traders refused the old notes, stating that they would not be able to deposit them at the banks.

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Alimoshotoday's correspondent, who spoke to a retailer, reports that the wholesalers in Igando, as a condition for accepting old notes resorted to selling off goods that customers would not buy on a normal day.

"When I went to the market, I saw products that I have not seen in a long time. That was the only way I could have used my old notes. So they brought out these goods, and even if we did not need them, we still bought them just so that the old notes would not become useless in our hands. At least, no be poison, na still food," she said.

Similarly, drinks hawkers in Egbeda also accepted the old naira notes on the condition that the balance would not be returned to the buyer. Two plastic bottles of drinks were sold for #1000 old note.

On the other hand, PoS operators have continued to count their gains, as most of them have taken transaction fees for a #1000 withdrawal to #300.