Old notes still legal tender – CBN tells traders rejecting transactions
……Sensitises residents to importance of redesigned notes
By Chima Azubuike
The Central Bank of Nigeria on Wednesday warned Gombe traders against any attempt to reject old notes, saying that its still tenable until 31st January 2023.
Issuing this stern warning in Kwami Local Government during it market stock held at Kazua Kwami, organised in collaboration with Access Bank, Director, Development Finance Yusuf Yila, said nobody should be prevented from transacting with the old notes until the stipulated date.
Our Correspondent reports that traders at the market swapped about N10,000 old notes with the redesigned notes facilitated by the bank, with support from Point of Sale operators.
Yila, who was represented by Ashiru Mohammed said banks have been encouraged to increase the number of persons collecting deposits of old notes from customers.
“we asked them to continue to collect old notes because it’s still legal tender until 31st January before they can stop,” Yila said.
He added, “The essence of the visit was to enlighten them about the currency redesign. We monitored the activities of operators and swap N10,000. In Gombe we are conducting the monitoring and they are trying their best to make the money circulate, if you noticed what happened this morning we had meeting with operators we encouraged them to increase the number of persons collecting deposits of old notes from people so that we can fast track.
“Well for now in Gombe, they have been complying, so I can’t be able to say there is any penalty. Yes, we have enough of the redesigned notes.”
Speaking further on the essence of the initiative Yila said traders should endeavour to keep their money in the banks, adding that “This is an enlightenment and sensitisation. We want them to rush to any bank closest to them, they can use the bank’s agents to open an account. Today, we have sensitised them and we want them to go to the bank and not to wait till 31st January.”
