By Ogalah Ibrahim
Ahead of the deadline for withdrawal of some old Naira notes from circulation, the Central Bank of Nigeria (CBN) Katsina Branch has taken its sensitisation campaign to markets and streets in Katsina to ensure that citizens in the state are not caught off guard.
Speaking during the sensitisation exercise at the Katsina Central Market on Thursday, Ahmed Bello Umar, the CBN Director Currency Operation, said the exercise is aimed primarily at achieving two objectives:
One to appeal to traders and individuals to go to the banks and exchange their old Naira notes with the new one to prevent them from becoming useless as the deadline approaches.
Secondly, to bring to the notice of the general public that the CBN has since last Friday directed all banks to only upload the new Naira notes on their ATM machines.
As a result, Ladan noted that their operatives are keeping a constant check on the banks to ensure that they are complying with the directives.
According to the CBN Director of Currency Operation, the new naira redesign is in conformity with international best practices and it is geared towards curtailing inflation.
In the same vein, Muntari Sagir, an Assistant Director with the National Orientation Agency (NOA), Katsina, said the Agency received a truckload of materials for the sensitization exercise from the CBN as it plans to flag off its campaign tomorrow Friday on the need to return their old notes to the banks before the stipulated deadline of 31 January 2023.
To that effect, Sagir said they are engaging all their staff across all the wards in the state to ensure that they reachout to people in all the nooks and cranny of the state,
explaining to them the importance of the naira redesign and the need for them to return their old Naira notes to the bank before the deadline.
Pending any change in plans, the following old Naira notes 200, 500, and 1,000 gradually being phased out will cease to to serve as legal tender from 31 January 2023.
The post Naira redesign: Katsina CBN storms market over old notes deadline appeared first on Vanguard News.
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