By Ambrose Ologide
Some commercial Banks in Warri have started rejecting the old currency .
The banks are United Bank For Africa, UBA near Ogbe-Ijoh Market, Wema Bank , near Warri Garage among others .
However Amju Micro Finance Bank opposite Secred Heart Cathedral was the only bank that accepted old currency in the area.
Efforts by our correspondent to hear from the said banks on their decision were not successful as at the time of filing this report.
Meanwhile traders and other stakeholders that spoke to our correspondent on the issue including
the President General of Igbudu Market Traders Association, Warri Comrade Oghenerume Kugbere lamented that the naira palaver had adversely affected business in the biggest market in Delta State.
He stressed that traders have been recording extreme low sales since the issue started .
Kugbere noted that transactions in the market were mostly on cash and carry basis and that majority of the traders do not have the facilities of money transfer ” couple with the problems of poor networks and fake alerts ” he added .
The 1st Vice Chairman of Mile 11 Security Organisation , Igbudu Market , Comrade Christian Agbefen spoke in the same vein as he blamed commercial banks in Warri for the naira wahala .
He accused commercial banks in Warri of making brisk business with the new currency. ” Their ATM machines do not have new currency and when they pay, they do so with old currency. “
Another official of the Igbudu Market based organisation, Comrade Charles Okome stated that traders cannot survive without the old currency.
He narated how a female trader in the market insisted on accepting only the new currency the previous day and almost went home empty handed.
A pretty trader in the market, Taiwo Olaworun affirmed that it would be suicidal for any trader to insist on doing transaction on the new currency alone .
A food stuff seller in the popular Small Market Warri Garage Area who was shy to identify herself disclosed that she had just returned from a local market in Oku – Abude , along Sapele Road in Okpe Local Government Area where she said transactions were mostly on the old currency in the said market .
The Secretary of Lower Erejuwa Motor Sparepart Association, Warri Comrade Okocha Nnamdi bitterly complained that the naira issue has crumbled business among members “more so with the problem of poor bank network.”
He therefore called for the pumping of more new currency in the economy .
Okocha Nnamdi suggested also that both the old and new currency be used simultaneously and that in the process the old currency should be withdrawn from circulation by banks.
On his part, a Warri based legal luminary, Chief Raphael Okene noted that it was a contemt of court for any commercial bank to reject the old currency since the Supreme Court has not vacated its restraining order on Federal Government not reject the old currency .
He stated that the matter will come up for hearing at the Supreme Court on Wednesday 15th February, 2023 .
Okene also recalled that the governor of Central Bank Mr Emefele admitted publicly that there was not enough new currency in circulation.
In his contribution, Warri based renowned public analyst Chief Akpojotor Adjarho called for the immediate apprehension of erring banks by the police .
