New naira: Racketeering booms in Lagos, Abuja, Anambra

Sami Olatunji, Solomon Odeniyi, Lilian Ukagwu, Damilola Aina, Nathaniel Shaibu, Anozie Egole, Funmi Fabunmi, Uthman Salami, Josephine Ogundeji, Ikenna Obianeri, Tukur Muntari, Ada Wodu, Adeyinka Adedipe, Animasahun Salman, Matthew Ochei, Daud Olatunji and Tunde OyekolaThe scarcity of the new naira notes took a worse turn on Monday as currency racketeers took advantage of the situation to exploit Nigerians who were desperate to obtain the currencies.

When asked if he could supply N600,000 new notes, he promised to notify our correspondent when the notes were available for collection. A currency exchange operator, who chose to remain anonymous, explained that the currency exchangers maintain a relationship with bank staff, adding, however, that they do not pay for the currencies, except by way of incentives or when there is an increase in demand.

In the early hours of Monday, The PUNCH gathered that two persons who had a public address system, went around some streets of Onitsha and Nkpor, asking the residents to come out and buy the new notes. “However, due to the long queue of customers on the bank premises, a woman whom some people had accused of using different ATM cards to empty a nearby Zenith Bank machine began to sell the new notes to those who could not withstand the long hour on the queue,” she narratedSimilarly, during visits to some PoS operators in Ogun and Lagos, some residents narrated how they bought the new notes from bankers and black market operators.

Also, one Iya Ire, who operates a PoS terminal at the Egbeda area of Lagos State, said, “Here, they sell new notes; N5,000 comes with an extra charge of N500 and above, depending on how you negotiate. Then for N10, 000 new notes, it comes with an extra charge of from N1,000 and upwards” Meanwhile, around Sterling Bank in the Magboro area of Ogun State, unlicensed currency operators were spotted selling the new notes.Another currency hawker, who chose to speak on condition of anonymity, said, “I am helping a staff member of the bank to sell new notes and I get a commission after sale.”

Na only transfer remain to do now oooo. Just go buy data for ur phone and pray ur bank network no run away

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