CBN takes Public Awareness on Redesigned Naira Notes to Traders in Lagos

By Ebere Obike

The Central Bank of Nigeria, CBN, has taken its public awareness on the redesigned Naira notes to traders in some major Markets in Lagos.

The CBN Lagos Branch Controller, Mr Godfrey Koyor, who led a sensitisation team to Balogun Market in Lagos said the programme was part of the Apex Bank’s strategies to create more awareness about the redesigned naira notes and to explain to traders in particular, that the old naira notes cease to be a legal tender by 31st of this month.

Addressing some traders at the popula Balogun market, Mr. Koyor gave the assurance that the redesigned Naira notes which some people have been complaining are yet to be in circulation in Lagos state will soon be available to everyone.

According to him the redesigned naira notes can only be distributed through the commercial banks.

He stressed that this explains why the Apex bank gave directive to Commercial Banks last week Wednesday not to issue the redesigned naira notes to customers making over-the-counter withdrawals. Rather, the redesigned naira notes should be loaded into the Automated Teller Machines, ATMs, so that the currency will be available to people across the nation.

Mr Koyor explained that by making the redesigned naira notes available in ATMs, people would be able to access the notes during working and non working hours..

“ Whether it is banking hours or outside the banking hours, if you go to your ATM, you will get the new Naira notes. Is a directive that the Apex Bank have given to all deposit money banks make the money available in the machines so that people can have access to these and we are supplying them with the new notes and they are making it available to the machines”, he said.

One of Market Leaders, Mrs Oyela Bisi Balogun, who appreciated CBN for the sensitization, expressed regret that some traders were still not aware of the resigned Naira notes.

“In a situation where the new note is presented to a buyer and the woman rejects them money which means the awareness is not enough. If there is enough awareness, t go e grassroots woman selling drinks wil not reject the money”, Mrs Balogun pointed out.

Some traders who spoke with Radio Nigeria, said were happy that the Apex bank came to the market to sensitize them.

They however, complained that few buyers had payed them with the redesigned naira so far.

Speaking on the redesigned naira notes one said,, “Am collecting it because it is legally accepted, actually I don’t go to the bank but customers pay me with it. Since it been it has been in circulation, I have never rejected it”.

Also speaking another who pleaded anonymity explained that; “ the CBN has assured them that the new notes will be in all the commercial banks and it will get to the end users. Some when they want to pay they add it to the old naira notes”.

The traders however appealed to CBN to create more awareness on the redesigned naira notes as many traders especially the illiterates were yet to be aware of it.

The Apex bank urged Nigerians to tune in to Radio Nigeria by 7 O’clock in the evening every Friday for programme called, “Money and the Economy Today”, for more sensitization on redesigned naira notes.

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