“₦700K in new currency is being sold for ₦1 million by money changers at parties” – BBNaija’s Whitemoney raises alarm (video)

BBNaija season 6 winner, Whitemoney has raised alarm about an alleged corrupt practice in the Nigerian banking system following his experience at an event.

Whitemoney, who spoke in a video shared on his Instastory, stated that there has been scarcity of cash – both old and new currency – in banks in recent times, yet new notes are surplus at events.

He said he attended a party recently and was shocked to see bundles of mint #200, #500 and #1,000 notes being sold by money changers, for partygoers to spray on their host.

According to him, it was even more appalling that money changers sold N700,000 in new currency for N1 million, thus making a whooping N300,000 as profit on each deal.

He further questioned how the money changers got the money when it is not readily available at banks.

Watch him speak below,

Netizens have also gone online to share videos of partygoers spraying the new currency with reckless abandon at parties, despite the fact that it is scarce.

Watch videos from some parties below,

The new Naira note everyone is looking for is available at the party, but accessable to Nigerians. Unfortunate pic.twitter.com/AQUlGJr6T8

— Zafirah M. Muhammad (@Oziohu7) January 31, 2023

CBN printed the new notes. They handed them over to the commercial banks. The notes disappeared from the banks, only seen at parties. pic.twitter.com/sIwgUZhgK4

— LMAN ✨ (@L_man__) January 28, 2023

People are struggling to get the new Naira Note yet on a steady people are turning up in parties with #NewNairaNotes
At a Party Yesterday 700k was been changed for 1 Million naira
300k to change money#CBN #DeadlineDay #Naira #PetrolDieselPrice #Transfers #PeterObi4President2023 pic.twitter.com/3I9G47k55h

— CryptoAndor (@Cryptoandor) January 31, 2023