The Central Bank of Nigeria (CBN) has partnered traders unions in Abuja as part of its ongoing nationwide sensitization of the newly redesigned naira notes.
Last year, the CBN changed the designs of the N200, N500, and N1000 notes in an effort to combat vote buying, hoarding, and other issues. Additionally, the goal is to promote financial inclusion in Nigeria.
The apex bank set a deadline of January 31, 2023 for the old notes to stop being used in Nigeria; several have asked that this period be extended.
In order to fully operationalize the surrendered currency notes, the CBN has maintained that the January deadline is sacrosanct.
The Managing Director of NIRSAL microfinance bank, Dr. Abdullahi Abubakar Kure, addressing traders and their leaders during a sensitisation exercise by the bank at Garki modern market in Abuja, said “we have enough stock of new notes.”
Kure said the CBN has asked the commercial banks to and pick the notes and load in their Automated Teller Machines, against insinuations that the new notes were in scarce circulation.
“We are taken this message to all nook and crannies of FCT. We are here to solicit your support to help us convey the messages to your subjects,” Kure who is also a CBN director said.
“At the expiration of deadline, your old notes are useless. The second leg of the excercise is enlighten on cashless policy. Endeavor to use all the cashless transaction points such as POS, internet enabled banking, USSD for your transactions,” he added.
Responding, His Royal Highness Dr. Baba Yunusa pledged to convey CBN message to his people, and commended CBN team for the visit.
Also, the Chairman of Garki modern market, Paul Nnamani urged CBN to prevail on banks to load their ATM with new currency notes.
