Naira Scarcity: “How I Bought N40K With N70K – Paul Okoye Laments

Nigerian singer Paul Okoye of Psquare has lamented the scarcity of Naira notes and how it has affected him today.

ER 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’.

He wrote:

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.

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.