The introduction of the new naira notes and the evacuation of the old notes from the system has indeed created a new flprishing business everywhere around us. The Banks are paying N5,000 daily with a long queues at few atm that dispenses. Most POS operators sing "No Cash".

Families are hungry, people are trekking long distances to work, many badly sick people are been rejected at hospitals for lack of cash to deposit for treatment.

Suddenly a new trending business broke out of all the chaos, people are beginning to trade bank transfers. At first I thought it was a joke when a POS centre told me to pay N500 for N10,000. I started ranting, but a young lady came in and gladly paid N500 to have the cash.

Now, my question is this is it legal?

If not, is there any portion of the Nigeria constitution that prohibit this act of trading in naira note with a profit margin?

If u ask me, na who i go ask?

brightebe:
The introduction of the new naira notes and the evacuation of the old notes from the system has indeed created a new flprishing business everywhere around us. The Banks are paying N5,000 daily with a long queues at few atm that dispenses. Most POS operators sing "No Cash".

Families are hungry, people are trekking long distances to work, many badly sick people are been rejected at hospitals for lack of cash to deposit for treatment.

Suddenly a new trending business broke out of all the chaos, people are beginning to trade bank transfers. At first I thought it was a joke when a POS centre told me to pay N500 for N10,000. I started ranting, but a young lady came in and gladly paid N500 to have the cash.

Now, my question is this is it legal?

If not, is there any portion of the Nigeria constitution that prohibit this act of trading in naira note with a profit margin?

over here, its 2000 for 20k

What am trying to know here is this,

Is there any portion of the Nigerian constitution that prohibits the act of selling naira notes for a marginal profit?