CBN exchanges new notes in Akwa Ibom markets

By Isaac Job, Uyo

The Central Bank of Nigeria (CBN) has exchanged new naira notes for traders in rural communities in Akwa Ibom state.

Speaking at Ibaka market jetty in Mbo local government area on Friday, the representative of the apex bank Affi Anietiekhai said the gesture was to reduce the burden associated with swapping old notes with new ones, especially for rural communities where there are no commercial banks.

Anietiekhai confirmed that the Central Bank decided to take the notes to people as there would be no extension of time for those who refused to return their old notes.

“One of the strategies to mop the old notes is that banks have been directed to open this Saturday and Sunday for receiving of the old notes.

“The bank should not close their door against anybody, individual or corporate who wants to deposit the old notes.

“But the policies still remain. You use so many channels to get the new notes. You can do transfer, draw from ATM and there is a limit you can draw at the counter before the deadline”

One of the traders at Ibaka beach market lamented the frustration experienced in different banks in an attempt to swap their old notes in commercial banks.

Read Also:

Kenneth Okorie, a trader at the Ibaka market beach recounted her experience in one of the commercial banks while trying to change the old notes.

“That day I went to the bank, there was no new notes and even when they give you small, it takes time.

“Let them bring out the new notes because some of us closed our business to get to the bank but were frustrated without getting it.”

Another CBN official pastor Florence Abraham also confirmed that there would be no extension of time for the withdrawal of the old notes.

She said in every state of the federation, CBN staff are there to assist the public, especially the rural dwellers.

“The sensitization started from last year and everybody is expected to comply as there will be no extension of time,” she said.

Follow The Trumpet on all our social media platforms for more updates:

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button