Video Shows Truck Allegedly Loaded With Defaced N1,000 Notes From North

Video circulating on social shows a broken down truck loaded with what is perceived to be N1,000 notes from one of the states in the North.

According to people in the video, the broken-down truck is the third they had seen loaded with Nigerian currencies looking for where to offload them.

The video shows what seems to be naira notes, especially N1,000 denominations badly defaced, which those in the video claimed may have been kept in a place where they became damaged. Now the owners are looking for where to exchange them for the dollar

This comes on the heels of plans by the Central Bank of Nigeria to redesign naira notes which have spurred a glut of the local currency in the market.

There have been videos and pictures of notes hoarded by Nigerians from as far back as 20 years ago resurfacing in circulation as CBN speeds up plans to introduce the redesigned notes from December 15, 2022.

The glut of the naira in the market has crashed the currency’s value, which traded at N900 to a dollar in the black market and N442 to a dollar in the official market.

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