New naira scarcity: Sokoto, Zamfara, Katsina border residents trade in CFA

According to him, as the deadline for the naira swap draws closer and the old currency is facing rejection, traders are faced with either accepting the CFA for their transactions or halting their business activities.

But the naira notes scarcity had forced the majority of cattle dealers and traders to carry out all transactions in CFA.Mallam Ahmadu Ousseini who sells cattle and camels at Maiadua Kara International market, said he carried out most of his transactions in CFA because his customers said they could not get the new naira notes.

Ahmed stated, “I buy from the dealers at Dankarma and Jibia with the naira. Occasionally, I exchanged my naira notes with the CFA in any of the cattle markets. But now, the scarcity of the new naira notes has worsened the matter. “My problems as a cattle merchant are three: the CFA in the Cameroon market, which used to exchange at N560 per CFA, is now N680 per CFA, and in a few instances it is even more. The old naira notes are scarce and the new notes are nowhere to be found.’’

The chief cattle dealer of Bama, Mohammed Gwamna, said the situation had forced him to stop his cattle business. Another trader, Abba Ali, noted, “At Monguno, Ngala, Gubio and Kukareta and Gaidam , cattle will not be sold to you if you do not brandish new naira notes; and in Cameroon, you must show CFA; and both are not easy to find. This is the situation,” he complained.

In Kwara State, in Chikanda, a border town between Nigeria and the Benin Republic, a trader, Alhaji Bashir Mohammed, said he preferred taking CFA as new naira notes were not easily available.

The xof and xaf currency that is flowing through Nigeria is a better option to Naira. It’s stable and if higher value. Look at the XAF redesign in December 2022, till today no problems. It is time for a new Nigeria with a strong currency like the CFA/XOF/XAF nairaswap

App don destroy nigeria really sad

That's a proof they're a different country and people don't want to accept it because they want to be freeloading from the different nations in the south! Even their terrorist militia in the forests have the new notes abundantly. Who supplied them?

what has Apc not done to us...

We need to Survive. Since we are buying our own money (Naira)

topradio909 The currency is more better than the scarcity

Imagine 😂 smh

Is a big shame.

Nature abhors vacuum. Since Naira is scarce resort will be had to other currencies especially those at the borderlands.

Trade in CFA, yet they told us these borders were closed.

🤣🤣🤣🤣🤣 there is nothing we will not see I'm this country

But it has always been like this at the borders. Nothing new here. They used both Naira and CFA conveniently there. Maybe the Naira scarcity has just given CFA more prominence there sha o.

The boarder that was closed to other regions is that I think? It is well.

Wow! Jesushanuwa

Tinubu is releasing his media arsenal against Buhari administration, we know what media is after and where all the kind of news are coming from....

Smh

In same Nigeria

HAHAHAHAHAHAHAHAHAHA, ZOOOOOOOLOGICAL REPUBLIC

See our lives outside... 🤦🙆

Soon people will protest this cenbank ProfOsinbajo MBuhari stupid policy to suffer the masses

When Tinubu said their sabotage plan against him will fail, Obidiot said Buhari is doing the right thing. Una eye don see say CBN political change of Naira no make sense.

Nigeria is nothing but a banana republic.

my people from North to south, East & West we all know what the truth is now, only if you want a better Nigeria for the next years ple's let us come out in our numbers with all energy on election day with our PVC and vote for LP candidates, vote Obi/Datti, Becourse OBI IS BETTER

The people must find a a way. 🤣

Legacy of Buhari APC Regime

Ewo🙉

Since the newly redesigned N1000, N500, and N200 notes are difficult to get, where are the old N100 notes? Why aren't the banks issuing them?

Nigeria now have two currencies .. very interesting times👏😜

What a country. It really a shame

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