In its Continuous effort to ensure the availability of the new currency notes, the Central Bank of Nigeria says it engaged the Micro Finance Banks and POS Operators to swap the old naira with new notes across troubled Communities in Zamfara.
The communities are within Zurmi, Shinkafi, Birnin Magaji and Dansadau in maru Local Councils considered to be the hotbeds of Banditry and Kidnapping
The move is to ease the stress for the rural dwellers, those that do not have bank account and also to safe bankers from security risk
At a press conference in Gusau, the capital of Zamfara state, the CBN Branch Controller Buhari Abbas Insist only ten thousand naira will be swapped for an Individual
” We at the CBN have made arrangements to ensure the availability of the new currency notes in Zamfara rural areas especially those bedevilled by Insecurity” the Branch Controller he said.
“The Nigeria’s Apex Bank has engaged some micro – Finance Banks and POS Operators in four local Councils of Zurmi, Shinkafi, Birnin Magaji, and Dansadau in maru Local Councils, which are considered to be the hot beds of Banditry and Kidnapping” he added
“Only the sum of ten thousand naira can be swapped for an Individual” Mr. Buhari insist
This Development is coming at the time the Central Bank extended the dateline period for the old currency notes to cease circulation, yet many Nigerians have Continued to struggle on long queue to get the new naira notes
Though the apex Bank Insist there’s enough redesigned currency notes in circulation across the country.
The new naira notes according to Nigeria’s Apex Bank has security features that can not be counterfeited
When TVC NEWS visited some ATM Machines in Gusau, some Bank customers Ibrahim Ado and Al’amin Salha say they spent saveral hours on queue Before they’re being paid
They also lament the high charges by POS Operators especially in rural areas
The central Bank in Zamfara says it has not recorded any case of selling the new naira notes by either commercial Banks or POS Operators, but warn that anyone caught will face the full wrath of the law.
NIGERIANS WILL NOT LOSE MONEY IN CURRENCY SWAP – CBN
The Central Bank of Nigeria on Tuesday assured Nigerians they will not lose their money even after February 17.
CBN Governor, Godwin Emefiele, made this known at a fact finding engagement with the special committee of the House of Representatives on the latest bank’s cashless policy.
After last week’s threat of arrest, CBN Governor, Godwin Emefiele, is before the lawmakers to respond to their enquiries.
House Leader and Chairman of the Committee, Ado Doguwa, kick starts the business of the day.
He seeks to know reasons behind the CBN Governor’s inability to honour two earlier invitations.
The House Leader also speaks to the challenges Nigerians are passing through arising from the cashless policy.
CBN Governor apologises for inability to come respond to the parliament’s calls before now and restates his respect for the institution.
In his presentation, Godwin Emefiele, insists the policy is in the overriding interest of the nation’s economy.
He says the N1.4 trillion in circulation as at 2015 rose to N3.23 trillion by 2022.
More than 2.7 trillion Naira of this amount was in peoples homes and not the bank’s, thereby making CBN’s monetary policy difficult.
He blames Deposit Money Bank’s for the scarcity of the new naira notes and seeks the support of the anti graft agencies to nip any form of connivance in the bud.
Godwin Emefiele apologises to Nigerians for the difficulties being experienced and assures them they will not lose their money even after the deadline by the apex bank
Related posts:
CBN failed Nigerians with currency Redesign, Currency Swap – Economist
CBN increases MFBs capital requirements by 900%
CBN extends MFBs recapitalisation deadline to 2021
CBN orders MfBs to acquire 64 new customers per month
Currency swap: CBN meets manufacturers over $2.5BN deal
CBN to work with PoS Agents to smoothen Currency Swap process
Fashola urges rethink by CBN on Naira Redesign, Currency Swap
CBN has failed Nigeria on Naira Redesign, Currency Swap – JH
