In Nigeria, I find it difficult to understand why people exchange cash (old notes) for cash (new notes), at a cost, before spraying (giving) it as a gift.
I was shocked to find someone exchanging old notes of 10,000 Naira for new notes of 8,000 Naira.
The trader made 20% on the spot, tax free. Wow.
Considering the giver had decided to give a gift of 10,000 Naira to someone, why does the giver not see the fraud of the 2,000 Naira loss in this exchange?
Why does the giver prefer to give less (8,000 Naira) than the value they intended (10,000 Naira)?
Maybe it is because the person receiving the cash gift, will appreciate new notes of 8,000 Naira more than old notes of 10,000 Naira. Shocking.
Or maybe it is because the person giving, feels better spraying new notes of 8,000 Naira than old notes of 10,000 Naira. Shocking.
Strange behaviours.
– Osasu Oviawe
i am with you on this. the other day i was with a friend who had a wedding to attend, he had to call different friends {bankers} to ask them which of their ATM's had mints { as is popularly called } i started by asking him why he had to go through so much stress to spray money when he can just package it and give to the couple after the wedding. well i actually do think is for show off.