The Central Bank of Nigeria has continued in its nationwide campaign to ensure a smooth transition to the new naira notes as it visits the southern state of Cross River to sensitise residents.
The CBN embarked on a city-wide sensitisation campaign of residents in Calabar, the capital of Cross River State on the new currency notes and the approaching deadline in order to ensure that citizens adhere to the policy change, hitch-free.
The campaign, which was led by the Branch Controller, Glory Iniunam, started along major roads to major markets in Calabar, the Cross River State capital.
Iniunam led the team to Watt Market, the bustling Etim Edem Central Motor Park, Bogobiri, Marian Market, Ikot Ishie Market and the 8 Miles Market across Calabar South and Calabar Municipality.
“What we are here for is to sensitise the people towards acceptance of the new notes and the deadline for the change to the redesigned naira notes, which is January 31, this year. This is because the old notes will cease to be legal tender by that date and as from February 1, 2023 the new notes will come to being completely,” she explained.
Iniunam further urged those in villages where there are not a single financial institutions to inform the CBN to enable the bank mobilise POS agents to such locations.
“If there are communities without any bank or nearby financial institutions, the people can collectively write to us and we will send POS agents, who are circulating rural areas. They carry this money and go to the bank to withdraw and they take these new notes to their communities to disburse,” she stated.
Sanctions
During the sensitisation, the branch controller hinted that CBN would sanction any bank in Cross River State that dispenses old naira notes through the Automated Teller Machines, ATM.
She said, “for now, the ATMs are distributing new notes because we have given them and it is an offence that would attract sanctions for any commercial or community bank to dispense old notes; all banks know this.”
According to her, “there is sanction for Banks whose ATMs are still dispensing old notes. If there is any bank dispensing old notes, we are doing spot checks and are going to do another one today, tomorrow and by this weekend.”
She explained that although banks were still issuing old notes over the counter, people with old notes should visit any bank before January 31, 2023 to have the old currencies swapped for new ones.
1. Staff of the Central Bank of Nigeria on board a truck during the street and market sensitization about the new naira notes in Calabar, the capital of Cross River State, south-south Nigeria.
