New naira notes: CBN sensitizes traders in Adamawa

From Umar Dankano, Yola

The Management of the Central Bank of Nigeria, CBN has urged Nigerians to report any commercial bank that does not dispense the new redesigned Naira notes at its business outlets.

Governor of the CBN, Mr. Godwin Emefiele made the disclosure at the sensitisation of stakeholders on currency redesign in Yola stressing that the New Naira Redesign policy came at a time all Nigerians are in dire need and its economy faced with many challenges.

Represented by the Director, Internal Audit department of the CBN, Mrs Alfa Lydia Ifeanyichukwu, Emefiele said some of these constraints are averting the goal and objectives of achieving a decisive growth calling on Nigerians to support and contribute toward a successful implementation of the policy.

Mrs Ifeanyichukwu told the gathering that the old naira notes being withdrawn from circulation will cease to be legal Tender after January 31, 2023 noting that the new design and current series (old notes) are to circulate side by side until same date.

“We advise members of the public to ensure that they deposit cash holdings in these denominations at their commercial banks.

“There is no limit to how much a customer can deposit between now and January 31, 2023, as the CBN has suspended bank charges and we encourage the public to explore other payment channels such as eNaira, POS, electronic transfer, USSD, internet banking and mobile operators and agents for their economic activities,” she said.

In his remarks, Adamawa state Branch Controller of the CBN, Mr.Sanusi Sah Nyashi announced that any commercial bank found not dispensing the new notes would be sanctioned noting that the CBN has directed all commercial banks to reintroduce Saturday’s banking to meet up with the high demand by Nigerians.

Mr. Nyashi said that apex bank will be keenly monitoring the full implementation of the policy with a view to satisfy the economic needs of Nigerians.

In his contribution to the development, Alhaji Musa Yaro (Sarkin Kasuwa) said that the CBN need to do more in ensuring the availability of the new notes in our banks decrying that the banks are not dispensing it much.

Yaro advised the Apex bank to do more sensitisation work that can reach the larger population at the grass root where he said do not use banks for the commercial activities.

Some of the business men and women at the occasion expressed satisfaction with the awareness campaign taken to them at their business premises pledging to support the Apex bank to succeed in its currency policy.

Our correspondent in Yola reported that the CBN team, stakeholders and journalists visited some commercial banks including GTB, ZENITH and JAIZ Banks where customers were monitored cashing the new Naira notes.



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