Old Naira Notes: Despite CBN Directive, It’s No Show In Borno

Following the belated directive of the Central Bank of Nigeria (CBN) to commercial banks to pay out and receive old higher Naira notes until December 31, 2023, there was neither old nor new notes in majority of banks visited by LEADERSHIP in Maiduguri, the Borno State capital on Tuesday.

Similarly, no Automated Telling Machine (ATM) was equally dispensing cash at the banks visited.

Our correspondent gathered from both customers and some bank staff that even though the CBN gave directive to the commercial banks to dispense the old naira notes to customers as ruled by the Supreme Court, the said old Naira notes especially N1,000 and N500 banknotes were unavailable for the banks to dispense to their customers.

A staff of one of the prominent banks in Maiduguri, who spoke on the condition of anonymity, said although cash were dispensed on Monday to customers, the old N1,000 and the N500 banknotes were not among the notes dispensed.

Our correspondent further gathered that apart from poor internet network that only allows most of the bank customers to make mobile transactions late night, accessing the banks for other services such as fund transfers and obtaining of ATM cards were herculean tasks.