BusinessMoneyNewsNigeriaCBN Advises Nigerians To Deposit Their Ola Naira Notes In Banks

The Central Bank of Nigeria, CBN has appealed to Nigerians to take advantage of the ten days extension for the old two hundred, five and one thousand naira to cease as legal tender and deposit in their Bank accounts old naira notes in their possession before the expiration of the deadline.

The Apex Bank made the plea through the Director of Internal Audit of the Bank, Mrs. Alpha Lydia Ifeanyi Chukwu while addressing market men and women at the Yola town motor park in Yola South local government area in continuation of the sensitization on the redesign of naira notes across the state.

While thanking President Buhari and the Governor of the Central Bank Godwin Emiefele for listening to the people’s outcry and extending the deadline, said people should make a conscious effort and get their monies deposited in various accounts and not wait until the last hour before rushing to the banks.

Chukwu explained that those without Bank accounts can approach CBN super agents for money swaps or POS operators and account openings and deposit their money.

She reiterated that CBN will penalize any bank whose ATMs dispense old redesigned currency notes, calling on people to report such Banks to CBN for immediate action.

The Director called on market men and women not to reject old naira notes as they are still legal tender, maintaining that the rejection will affect their businesses and invariably affects their income.

She enumerated some benefits of the redesigned currency including; countering activities of counterfeiters, controlling inflation in the country, safeguarding people from being attacked by hoodlums and other criminals, as well as improving the economy.

Hassan Umar Shallpella (Regional Correspondent)

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