TStv Africa

TStv Africa
 

THE business of exchanging Naira mint during the Christmas and New Year celebrations had been on over the years, especially in Anambra State where people usually show off with such mints by spraying the celebrants at ceremonies. In the past, commercial banks used to supply such mints to their customers during this time of the year, but somehow, the mints disappeared from the banks. The confiscated naira notes Rather, the mints which could not be found in the banks became readily available at the various markets in the major cities of the state. The business became so lucrative that some traders left their former businesses to go into the sale of mints. Places where the mints are openly exchanged include the Emeka Ofor Plaza in Onitsha, the Abuja line in the Onitsha Main Market, the Ochanja Market, the Head Bridge Market, the Electronics Market, the Eke Awka Market, the Nnewi Main Market, among many other places. Sometimes the hawkers take the business to venues of ceremonies where the commission is higher At the various places where the business thrives, N10000 mint is exchanged for N12000 of used currency and it had been on for years. The question that had agitated the minds of the people was the source of the mint exchanged by the hawkers. Since individuals do not have access to the CBN, but to the commercial banks, the belief is that it is the commercial banks that supply the mints to the hawkers. However, some staff of commercial banks say the CBN no longer supplies the mints to them. Last week, seven persons who were hawking the mint naira notes in Onitsha were arrested by the Anambra State police command in collaboration with the Department of State Security, DSS, following complaint by officials of the Central Bank of Nigeria, CBN.
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