Naira Scarcity: I Bought N40K With N70K – Paul Okoye Laments
Paul Okoye of Psquare, a Nigerian singer, has lamented the scarcity of Naira notes and how it has affected him today.
Nigerian news reports that since the Naira redesign policy, Nigerians have faced a scarcity of new Naira notes.
Paul Okoye said in an Instagram post that he bought forty thousand Naira for seventy thousand Naira at the embassy because he needed cash.He described the current situation as ‘Nigeria breaking new records’.
Omo!! I buy money today!! Just because I have to pay for a certain fee in an embassy, and it has to be paid in cash. Joke apart I bought 40k with 70k Aahhh Naija breaking new records.
Paul Okoye Tackles Senate Over New Directive
Meanwhile, the singer chastised the Senate for requesting a six-month extension of the deadline for the circulation of old Naira notes from the Central Bank of Nigeria (CBN).
Recall that lawmakers said in plenary on Tuesday that the apex bank’s deadline should be pushed back to July 31, 2023.
This follows a motion sponsored by Senator Sadiq Suleiman Umar (APC, Kwara) at Tuesday’s plenary, which stated that there were not enough new notes in circulation and that the January 31st deadline was not feasible because it would cause chaos in the country.
As a result, the Senate requested that the CBN extend the deadline by six months to give Nigerians, particularly those in rural areas, more time to exchange their old notes.
In response to their directive, Paul Okoye, via his Instagram page on Sunday, chastised the Senate for its sudden eagerness to alleviate Nigerians’ difficulties in obtaining the new notes.
The singer also questioned why the Senate remained silent during the pandemic that left many Nigerians hungry.