New Banknotes: CBN Partners Traders Unions To Create Awareness 

In continuation of its nationwide sensitisation programme on the newly redesigned higher-denomination of naira notes, the Central Bank of Nigeria (CBN) has sort the collaboration of traders unions in Abuja to facilitate public awareness about the naira notes.

The CBN redesigned N200, N500 and N1000 notes last year to curb counterfeiting, hoarding and vote buying, among other reasons. The idea is also to foster financial inclusion in Nigeria.

The apex bank had given January 31, 2023 as deadline for the old notes to cease to operate in Nigeria, a date many have requested should be extended.

The CBN has insisted that the January deadline is sacrosanct for implementation of full operationalisation of the resigned currency notes.

Addressing traders and their leaders during a sensitisation exercise by the bank at Garki modern market in Abuja, managing director of NIRSAL microfinance bank Dr. Abdullahi Abubakar Kure said “we have enough stock of new notes.”

Against insinuation that the new notes were in scarce circulation, Kure said the CBN has asked the commercial banks to and pick the notes and load in their Automated Teller Machines.

“We are taken this message to all nook and crannies of FCT. We are here to solicit your support to help us convey the messages to your subjects,” Kure who is also a CBN director said.

“At the expiration of deadline, your old notes are useless. The second leg of the excercise is enlighten on cashless policy. Endeavor to use all the cashless transaction points such as POS, internet enabled banking, USSD for your transactions,” he added.

Responding , His Royal Highness Dr. Baba Yunusa pledged to convey CBN message to his people, and commended CBN team for the visit.

Also, chairman of Garki modern market

Paul Nnamani urged CBN to prevail on banks to load their ATM with new currency notes.