CBN disburses N120m new naira notes to banks in Katsina
The Katsina Branch of the Central Bank of Nigeria (CBN) has disbursed the sum of N120 million to banks in Katsina State.
This was to make sure old and new currency are easily exchanged for those with ten thousand Naira and below.
The Informant247 recalls that the CBN has announced January 31, 2023 as deadline on the acceptance of the old Naira notes across the federation.
The Director of Currency Operations of the CBN, Ahmed Bello Umar, made this revelation while supervising an ad-hoc team in the state on Saturday.
He revealed that the CBN has put in place teams whose responsibility was to monitor the allocation of new currency notes across the country.
He however called on members of the public to forward complaints to the apex bank whenever they notice that any bank refuses to release the new currency notes.
“We had an engagement with bank agents in Katsina State; we have agents for four banks where we allocated the sum of N120 million for disbursement,” he said.
“The agents are supposed to collect N500,000 per week to disburse in their communities where they have a shortage of banks. We have also carried out an additional cash swap program by going to places like Daura, Kurfi, Mani, and Mashi Local Government Areas of Katsina State.
“Today, the team is out covering other LGAs, particularly for people having ten (10) thousand Naira and below. It’s a continuous exercise. We have realized that some people want to shut down their shops and their businesses.
“You are all aware that banks have been ordered across the federation to open today Saturday and tomorrow Sunday. So, there is no holiday until the end of the exercise. We are calling on people if they have any challenges about banks not opening or disbursing new currency on their machines, they should report to the Central Bank immediately so that we will send our monitoring teams to the place. We have assured banks that CBN has the money to carry out the exercise
“There are appeals by people from different spectrums of society calling for an extension. But as of today, there is no new directive on the extension, the deadline still remains 31 January 2023.
“We are advising people to adhere to the deadline and deposit their old currency notes into the Bank. For complaints, people should send us an email to the following mail: newnaira@cbn.gov.ng.”
