The Central Bank of Nigeria (CBN) on Tuesday assured marketers and traders that it had sufficient quantity of the newly redesigned banknotes for circulation and that they can get the new N200, N500 and N1,000 notes through Automated Teller Machines (ATMs) nationwide.
The apex bank’s Branch Controller, Lagos State, Mr. Koyor Baribokola, gave the assurance during a sensitisation tour on the new Naira notes to Balogun Market, Lagos.
According to him, though the apex bank initially had a challenge of withdrawing the old notes from circulation as people were not depositing the old notes, but the situation has changed as the January 31, 2023 deadline set for full withdrawal draws closer by the day.
The banker said: “We are having more deposits now; this gives us the confidence to push more new notes into circulation and into the economy.
“We are making them available to you and you will have them if you haven’t had them before. Please have the assurance that you are going to have them. We pushed out a lot last week and today we are continuing with it, part of the meeting was what delayed my coming out here.
“We set a date for the deadline for the complete change over that is Jan. 31, and for now, that stands. We have not extended or changed the time. So, between now and the Jan. 31, all the old 1,000, 500 and 200 notes you have in your possession, bring it to the bank and then take new ones,” Baribokola added.
While maintaining that the new Naira notes were redesigned in the interest of all Nigerians, the nation’s financial system stability and economic growth, the Branch Controller urged bank customers to improve their use of payment system’s e-channels to do transfers and other transactions.
In her remarks, the Head, Union Homes Success Market, Mrs. Oloyeola Balogun, lauded the apex bank on the public sensitization initiative for traders and charged the authorities to do more by taking the enlightenment on the new banknotes to the grassroots.
