The Central Bank of Nigeria has said the redesigned notes will solve the challenge of insecurity especially kidnapping in North-West, Nigeria.
Speaking during an interview with journalists, CBN’s Director, Development Finance, Philip Yila, who was represented by Aliyu Ashiru, explained that the policy would ensure sanity in the system.
Commenting about the essence of the policy, Yila noted that the bank thought it wise to set up high-powered teams across the federation to sensitise the public about the naira redesign policy, “to sensitise them more on the deadline of 31st January, 2023, to implement the cash swap programme that we have developed so that the vulnerable people who don’t have account can have access to the naira notes.
On his part, the Lamido Akko, Alhaji Umar Atiku, said “This is a good development we have been expecting something like this from the CBN. Earlier, the traders had started panicking and we are happy business is picking up. I wish to call on the people to take advantage of this opportunity.” “The swap is a welcome development. My people have been going from place to place in search of new notes. I’m happy CBN came to our rescue, we really thank the Federal Government and the media for talking about it. The only challenge is that the new notes are scarce, sellers in this domain want new notes from customers.”
“Some are not collecting old notes, but as far as I’m concerned the policy is commendable. There was enough time to sensitise people. I have just reached out to the Mai nguwa’s so that they can be part of the swap.”
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Naira Notes: Ganduje urges CBN to extend deadline of old notes depositA few days before the 31st January, deadline, Kano State Government has urged the Central Bank of Nigeria (CBN) to urgently consider the extension of the monetary policy.
Read more »
Naira notes: CBN deadline has plunged Nigerians into hardship - Mustapha LamidoThe opposition Peoples Democratic Party, PDP, has expressed worry over what Nigerians are going through due to the scarcity of redesigned Naira notes in
Read more »
Lawyer sues CBN, seeks extension of deadline for old naira notes | TheCableJoshua Alobo, a professor of law, has asked a federal high court in Abuja to restrain the Central Bank of Nigeria (CBN) from terminating...
Read more »
CBN begins old naira notes swap in SokotoThe Central Bank of Nigeria branch in Soko State has commenced swapping old naira notes for new notes for residents of the state in order to ease their stress.
Read more »
New Naira Notes: CBN, NOA remind Nigerians of 31st January deadlineThe News Agency of Nigeria (NAN) reports in Minna on Friday that the sensitisation was being carried out across the 25 local government areas of Niger.
Read more »
Newspaper Headlines: Pressure mounts on CBN to extend Jan 31 deadline for old naira notes | TheCableThe declaration of Gboyega Oyetola, former governor of Osun at the winner of the July 16, 2022 governorship election at the tribunal dominated the cover pages of Nigerian newspapers
Read more »