How My Late Father Lost All His Money During 1983 Naira Change – Trader

How My Late Father Lost All His Money During 1983 Naira Change – Trader | Daily Report Nigeria

A grain seller has recalled
how his father lost all his money in 1983 during a currency change under President Muhammadu Buhari’s military rule.

The grain seller in Dada village in Zurmi Local Government, Muhammadu Isa made the revelation to Punch while explaining why he stopped selling grains in the Nigerian currency.

He said that he sold only to those who possessed CFAs to avoid losing money as ‘’my father did in 1983 when the naira notes were hurriedly changed by the then Major General Muhammadu Buhari regime.’’

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Isa stopped selling his trade in Nigerian currency after the Central Bank of Nigeria, CBN unveiled its new naira note policy.

The grain trader further insisted that he would not accept the old naira notes as there was no bank or Point of Service terminal in his community where he could withdraw the new currencies.

He said:

You see since our people and those from the Niger Republic are coming to buy the grains with the CFA, I see no reason why I should collect old naira notes.

“If anybody wants to buy grains from me, he must pay in CFA or forget it. I will not collect old naira notes because I don’t know what to do with them after the expiration of the deadline.”

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