Bisola David
In order to support the nation’s economic transition, the Central Bank of Nigeria’s Ilorin office in Kwara State gave people assurances on Saturday that no one would be denied access to the new naira notes.
According to The Punch, the apex bank, however, said that it had given the state’s commercial banks enough brand-new naira notes to be issued to their ATM locations for use by state residents.
When the branch management began its monitoring activities at various banks in the state, they made this statement in Ilorin, the state capital, according to CBN branch controller Mr. Lamidi Najim.
UBA, Zenith, and Access were three of the banks being watched.
Najim, on the other hand, asserted that the CBN has taken all necessary steps to ensure that state citizens can access the new banknotes.
“The CBN released the freshly redesigned naira notes to regulate the quantity of money in circulation, prevent counterfeiting, slow inflation, and deter ransom payments.
“In addition to exchanging the new notes in banks, the apex bank claims it has also made available cash swap so that residents in remote communities can exchange their old currency for new ones,” Najim said.
To help them have access to the new naira notes, the citizens of the state have requested an extension of the policy.
Some of the locals who spoke with media over the weekend voiced worry about their predicament when trying to use the new notes at various banks and ATM locations.
While some banks permitted up to N20,000 per person to be exchanged when doing cash swaps within the banks, others only allowed up to N10,000 per withdrawal at ATM points.
The locals claimed that despite the approaching deadline, it was difficult for them to obtain the new naira notes.
