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“N700K new note was sold for N1M at a party” – Whitemoney (Video)

Big Brother Naija reality star Whitemoney has revealed how the new currency of N700,000 was sold for N1 million at a party.

Whitemoney

Whitemoney has shared his opinion on the ongoing drama about the scarcity of the new currency. He has disclosed how appalled he is at the situation regarding the Naira scarcity in Nigeria.

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According to Whitemoney, there has been a scarcity of new notes across banks and ATM muster points in the country. However, he disclosed how flabbergasted he was when he got to a party and saw money hawkers with huge bundles of the new notes that were up for sale.

The ‘Shine Ya Eye’ winner express shock at how some people lay hold of these new currencies from the bank; adding that the hawkers sold N700k for as high as N1 million and pocketed N300k as profit.

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The CBN has extended the deadline for the expiration of old Naira notes.

The Central Bank of Nigeria (CBN) has extended the deadline for exchanging old N200, N500, and N1,000 notes from the three series of Naira until February 10th, 2023.

The CBN responded to pressure from concerned Nigerians following the disruption caused by the introduction of the redesigned currency.

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This was announced in a statement by CBN Governor, Godwin Emefiele, on January 29th, 2023. The original deadline of January 31st, 2023, was set after the introduction of redesigned notes in December.

The extension has, however, been made to accommodate the collection of more old notes as there is a shortage of the redesigned notes currently in circulation.