“No bank should refuse to collect the old naira notes until the deadline of 31st January 2023,” an official said.
on Thursday vowed to sanction any commercial bank found hoarding the new naira notes.
Earlier on Wednesday, CBN’s Director of the Legal Services Department, Kofo Salam-Alada, disclosed that the CBN is already monitoring banks that are still dispensing old naira notes from their ATMs. In October last year, the CBN Governor, Godwin Emefiele, announced the plan to redesign Nigeria’s N200, N500 and N1,000 notes. He said the new notes would go into circulation in December while residents are expected to change all old notes by January 31.The move to replace old notes generated heated debates among Nigerians. While some public commentators questioned the rationale behind the policy, many have called for an extension of the deadline.
“We also have monitors going around banks now. I have been to some ATMs this morning and I have done the reports. We are not mobilising the masses against the banks because the banks are there to serve you, but be rest assured that they will serve you now that they know that the CBN is on them to serve you with the new naira notes.”On his part, the President of the Coalition of Associations in Computer Village, Lagos, Timi Davies, noted that the new naira notes are a good initiative.
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