Traders in Adamawa State have stopped accepting the old Naira notes of N1,000, N500 and N200 ahead of the official deadline of January 31.
Some of the traders confirmed this on Wednesday in Yola.
They expressed difficulties in getting the new banknotes from commercial banks, hence the fear of collecting the old notes.
They complained of spending a lot of time at commercial banks to change the old notes with new banknotes rather than in their business premises.
A business man at the Jimeta Shopping Complex, Malam Nuhu Sheriff, said it has not been easy for him to get the new banknotes from commercial banks, which is why he refuses to collect the old ones.
He said the fear of having the old Naira notes stuck in their hands made a lot of them to spend more time at commercial banks rather than with their business.
Another trader, Buba Bello, said that accepting the old banknotes is a threat to his business more so as the new notes that are limited in circulation.
Bello said he has stopped receiving old notes, and therefore plas to close his shop by January 26 until the new notes are in circulation.
“From the information reaching us, the Central Bank of Nigeria said that the Jan. 31 deadline for the validity of the old N200, N500 and N1,000 notes remained unchanged.
“We have to be serious. Instead of having old notes, it is better for me to close my business transaction until February 1,” he said.
Godiya Joseph, a dealer in moi-moi (beans cake), also expressed dismay at how some traders had started rejecting old notes before the deadline.
Godiya said she makes about N5,000 daily, but going by the present situation, she decided to hold on till February.
“With my type of business, if I cook, some customers may come with old notes and if I refuse to collect, I may not sell all, which will result in loss,” she said.
– NAN