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Naira Scarcity: “I Bought N40K With N70K” At Embassy – Paul Okoye Laments




Paul Okoye

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

Naija News reports that Nigerians have been battling with the scarcity of new Naira notes since the Naira redesign policy.

In a post shared on Instagram, Paul Okoye said 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.”

Paul Okoye Tackles Senate Over New Directive

Meanwhile, the singer criticized the senate after asking the Central Bank of Nigeria (CBN) to extend the deadline for the circulation of old Naira notes by six months.

Recall that the lawmakers during plenary on Tuesday said the apex bank should shift its deadline to July 31, 2023.

This comes after a motion sponsored by Senator Sadiq Suleiman Umar (APC, Kwara) at Tuesday’s plenary pointed out that the new notes were not enough in circulation, and the January 31st deadline was not feasible as it could lead to chaos in the country.

The Senate, therefore, asked the CBN to extend the deadline by six months to allow Nigerians especially those in rural areas more time to change their old notes.

Reacting to their directive, Paul Okoye via his Instagram page on Sunday tackled the senate on its sudden eagerness to quell the challenges faced by Nigerians in securing the new notes.

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The singer further queried on reasons why the senate was quiet during the pandemic that left many Nigerians hungry.