Is cash-king Nigeria ready for new naira notes?
The country's Central Bank introduced new bank notes in December 2022
Africa Daily · BBC World Service
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Show Notes
Since the end of last year both old and new naira notes have been in circulation. But from 31st January, the old notes will no longer be accepted as legal tender. President Buhari says the introduction of these new cash notes will help to tackle corruption, counterfeit money and the illicit hoarding of cash.
Nigeria has the biggest economy in Africa. It’s also often labelled the ‘cash-king’ of the African continent, because the majority of people there make payments with cash.
So how are Nigerians feeling about the rollout of these new notes and the 31st January deadline? Africa Daily’s Mpho Lakaje has been finding out.