New Naira Notes In Large Circulation – CBN

New Naira Notes In Large Circulation – CBN
The new naira notes
The brand new naira notes


The Central Financial institution of Nigeria has mentioned there’s a big circulation of the brand new naira notes within the financial system.

The CBN Lagos Department Controller, Godfrey Koyor, mentioned this throughout a stakeholder sensitisation occasion on the foreign money redesign on the Balogun market in Lagos on Tuesday.

He additionally expressed the willpower of the CBN to take care of the January 31 deadline to section out the previous naira notes.

He mentioned, “We’re giving everybody the reassurance that the brand new naira notes can be found and accessible to everybody. We’re distributing via the banking system. And because the transaction takes place, you’ll be having the brand new ones.

“In order persons are giving out the previous notes, they are going to be receiving the brand new notes. We’ve got pushed loads of the brand new redesigned foreign money notes into circulation and it’s going spherical.”

He added, “I’m assuring you that if you happen to go to the ATM, you’re going to get the brand new notes. The essence of giving the directive that the brand new naira notes ought to be allotted via the ATM is in order that they are going to be accessible to folks throughout working hours and off working hours.

“So, whether or not it’s banking hours or exterior the banking hours, if you happen to go to your ATM, you’re going to get the brand new naira notes. It’s a directive that the apex financial institution has given to all deposit cash banks to make the cash accessible within the machines so that folks can have entry to it, and we’re supplying them with the brand new notes and they’re making it accessible to the machines.”

He mentioned it was an order coming from the apex financial institution that each one ATM machines henceforth ought to be loaded solely with the brand new notes.

Koyor added, “And so we count on compliance from the banks. And we imagine that they’re complying as a result of they know the implication of non-compliance.

“There are implications for non-compliance from the financial institution, the Central Financial institution, we’ve provided the banks and we’ve given them a directive to make the notes accessible to the client via the cost channels, which is the ATM.”

Talking on requires an extension of the deadline, he mentioned “Proper now, the deadline is thirty first of January and it’s not altering. We haven’t modified the deadline. As I converse with you, the deadline stays sacrosanct and what we’re asking the general public and the banks to do to give up the previous notes and take new ones.

“We’ve got new notes sufficient in provide we’ve sufficient. Give us the previous notes you might have your possession, give it out, deposit it to your financial institution, let your financial institution convey it to us and gather new notes.”

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