Mai Mala Buni, governor of Yobe state, has appealed to the Central Bank of Nigeria (CBN) to give a special concession to residents to exchange their old naira notes for the newly redesigned currency.
Wasilat AzeezMai Mala Buni, governor of Yobe state, has appealed to the Central Bank of Nigeria to grant special concession to residents to exchange their old naira notes for the redesigned notes.
All the other denominations — N100, N50, N20, N10, and N5 notes — will continue to be in circulation while the current N200, N500, and N1,000 naira notes will cease to be legal tender in the country after January 31, 2023.Buni explained that only four out of the 17 local government areas in the state have banks, making it difficult for people in the remaining 13 LGAs to access banking services.
“The CBN should be considerate to provide special services to such areas with special needs to avoid making them victims and losing their money.“The CBN and commercial banks should, as a matter of urgent public interest, deploy alternative services at their disposal to salvage the situation.” He added that the improved security in Yobe and the north-east generally makes it conducive for the banks to resume operations and open new branches in the local government council headquarters and other towns.
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