Reasons why you shouldn't put the new naira notes inside saving box

Reason why you shouldn’t put the new naira notes inside saving box

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Nigerians around the nation are experiencing financial insecurity regarding their money, both the cash on hand and the savings they have in the banks, as the new naira notes are already causing them problems.Reasons why you shouldn't put the new naira notes inside saving box

The limit for the use of old currency notes, which is January 31st, is still sacred, according to Central Bank Governor – Godwin Emefiele.

Numerous Nigerians are outraged about the new naira notes, since it now appears to be difficult for those with modest incomes to store the new notes in their locally produced saving boxes at home.

The new naira notes currency, according to one Chimaobi Nteoma, doesn’t last very long when stored in a box or bag. It will eventually begin to deteriorate if jammed into a place.

Chimaobi Nteoma wrote on his twitter page saying;

I love what CBN did
New money doesn’t stay long while packed, if not it will start spoiling. All those wicked people that pack money, let them come & pack this one. See new money I saved for just 2 weeks has begin to spoil, pls nobody should put this new money inside saving box.”

Could this be one of CBN’s security measures to make sure individuals who hoard money will no longer have a motive to do so as they would essentially lose out at the end of the day?

Many Nigerians have also observed that the new Naira notes, particularly the 1,000 denomination, leave stains on white clothing when they are drenched in water, therefore you should be careful not to forget the currency in your pocket.

The Nigerian Security Printing and Minting (NSPM) Plc, commonly known as MINT, has however clarified why the new Naira notes leave ink when scratched on plain white surfaces while reiterating that best worldwide practice was adhered to in their production.

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