Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    INEC To Present Certificate Of Return To Elected Oyo State House Of Assembly Members Tomorrow

    March 28, 2023

    OMITUNTUN 2.0: Gov. Makinde, The Maradona of Politics, Successful Planner towards Making Oyo The Eldorado, IJOBA AUTHORITY Speaks

    March 27, 2023

    Consolidate Your Good Works, Oyo NUT Urges Makinde

    March 27, 2023
    Facebook Twitter Instagram
    • HOME
    • NEWS
    • POLITICS
    • ENTERTAINMENT
    • SPORTS
    • EDUCATION
    • LAW & CRIME
    • SPECIAL REPORTS/OPINION
    • CONTACT US
    • ADVERTISE WITH US
    • ABOUT US
    • PRIVACY POLICY
    Facebook Twitter Instagram
    Today Splash-Your No 1 Community NewspaperToday Splash-Your No 1 Community Newspaper
    Subscribe
    • HOME
    • NEWS
    • POLITICS
    • ENTERTAINMENT
    • SPORTS
    • SPECIAL REPORTS/OPINION
    • EDUCATION
    • LAW & CRIME
    Today Splash-Your No 1 Community NewspaperToday Splash-Your No 1 Community Newspaper
    Home»NEWS»Banks Reject Old Naira Notes, Oil Marketers Threaten Strike
    NEWS

    Banks Reject Old Naira Notes, Oil Marketers Threaten Strike

    EditorBy EditorFebruary 12, 2023Updated:February 12, 2023No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Oil marketers have threatened to close their filling stations in protest against the rejection of old naira notes by deposit money banks across the country.

    It was gathered that the banks issued circulars to some of the filling stations, urging them to stop accepting the old bills, as the DMBs would not collect them from marketers.

    This followed the controversy about whether the Central Bank of Nigeria would phase out the old naira notes on February 10, as traders and other retailers also rejected the old currencies.

    Sunday PUNCH gathered that many traders in the Federal Capital Territory, Ogun, and Lagos states had started rejecting the old N1,000, N500, and N200 notes. The traders claimed that old notes collected from sales made were rejected by banks on Friday morning.

    The development left many residents stranded with many having to find means to do bank transfers.

    Explaining why some of the stations were rejecting the notes, the Secretary of the Independent Petroleum Marketers Association of Nigeria, Abuja-Suleja, Mohammed Shuaibu, said, “There is a serious crisis now; bankers are not helping the system.

    “They are passing circulars around now, asking filling stations not to collect old naira notes again. The bankers are saying filling stations should stop collecting old notes. And now, many of these filling stations are closing because where they make their deposits, the old notes are no longer permitted there.

    “If this should continue, it is going to lead to a serious problem. They are asking us not to accept old notes because they won’t collect them from us. This is what is happening. So many of our members are now closing sales.”

    He said some of these banks closed operations for the day before the expected time, stressing that Nigerians should not blame the filling stations for not selling products whenever they noticed the closure of retail outlets.

    When reminded about the directive by the Federal Government that marketers should use point-of-sales machines and accept bank transfers, the IPMAN official said his members were willing to comply.

    “Some of these bank transfers are usually reversed, while at times, the transferred money will not get to the receiver. These are the problems we face with the network providers.

    “However, we’ve been taking the pains to see that we help the government in alleviating the plights of the masses. But if these banks are now telling filling stations that they are not going to collect the old notes, it is going to be a problem.

    “So, it is better for the authorities to call these banks to order immediately, otherwise, by the time we shut down, it is going to create a massive problem nationwide,” Shuaibu added.

    The spokesperson for the Association of Corporate Affairs Managers of Banks, Rasheed Bolarinwa, promised to reveal the position of the banks when he was contacted but had yet to do so as of the time of filing the interview.

    Meanwhile, the Minister of State for Petroleum Resources, Timipre Sylva, has said the Federal Government has taken bold actions to stop the ongoing petrol crises across the country.

    Sylva, who gave the assurance after his tour of some selected petroleum dispensing outlets in Lagos on Friday, also assured Nigerians of massive distribution of the product.

    “Fuel is everywhere, both in Lagos and Abuja. I visited many stations in Ikeja and on the mainland. From every indication, there are products everywhere and I want to assure you that the queues will disappear in a matter of days,” the News Agency of Nigeria quoted him as saying.

    Banks Oil Marketers Old Naira Notes Todaysplash News Todaysplash.com
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Editor
    • Website

    Related Posts

    INEC To Present Certificate Of Return To Elected Oyo State House Of Assembly Members Tomorrow

    March 28, 2023

    OMITUNTUN 2.0: Gov. Makinde, The Maradona of Politics, Successful Planner towards Making Oyo The Eldorado, IJOBA AUTHORITY Speaks

    March 27, 2023

    Consolidate Your Good Works, Oyo NUT Urges Makinde

    March 27, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Demo
    Our Picks

    Noise-Cancelling Headphones For a Superb Music Experience

    January 15, 2020

    Harry Potter: 10 Things Dursleys That Make No Sense

    January 15, 2020

    Dubai-Based Yacht Company is Offering Socially-Distanced Luxury

    January 15, 2020

    The Courier – a New Song with Benedict Cumberbatch

    January 14, 2020
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    Don't Miss
    NEWS

    INEC To Present Certificate Of Return To Elected Oyo State House Of Assembly Members Tomorrow

    By EditorMarch 28, 20230

    The Independent Electoral Commission (INEC) has schedule tomorrow 29th of March to Present Certificate of…

    OMITUNTUN 2.0: Gov. Makinde, The Maradona of Politics, Successful Planner towards Making Oyo The Eldorado, IJOBA AUTHORITY Speaks

    March 27, 2023

    Consolidate Your Good Works, Oyo NUT Urges Makinde

    March 27, 2023

    Umahi To Tinubu: Include Wike In Your Cabinet

    March 27, 2023

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    Today Splash-Your No 1 Community Newspaper
    Facebook Twitter Instagram YouTube WhatsApp
    • Home
    • Travel
    • Buy Now
    2023 Today Splash Newspaper, Ltd. All Right Reserved. Designed By Splash Arts- Contact Us On 08059330901

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
    Cookie SettingsAccept All
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
    CookieDurationDescription
    cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
    cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
    cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
    cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
    cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
    viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
    Functional
    Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
    Performance
    Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    Others
    Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
    SAVE & ACCEPT
    Join Us