…Says ‘we monitor banks to ensure compliance’
By Ibrahim Hassan,Kaduna
The Central Bank of Nigeria ( CBN) has taken its sensitization campaign on the New Naira redesign policy to Kaduna markets, calling on traders and the public to deposit their old notes at the banks before the January 31st deadline.
Speaking to journalists at the Kaduna Central Market, Mohammed Abba,Director Capacity Development Department of the CBN, said at the weekend that they have enough stock of the new notes which they gave the commercial banks and asked them to load in their ATMs.
He said ” for now I don’t think there is any possibility of changing the deadline. Part of our mandate for this trip now is to make sure we follow up with the banks to see there is no infraction. That they are not hiding these money or doing any other thing that is unwanted.”
“The idea of this exercise is for Nigerians,we are here, we have gone round the banks to ensure that money is made available in their ATMs. If we find any bank that is breaking this rule, we put sanction on them.”
On banks still dispensing old notes at their ATMs, he said “yes we’ve seen that, we have gone round the banks and noticed, and we engaged even Managing Directors of the banks. We called them straight away to find out why they were not dispensing new currencies.”
“We have enough money at Central Bank.Even yesterday Kaduna branch has given some money. So we believe by Monday, all those banks that were dispensing old notes would stop doing that.”
He said people can go and deposit their money at the banks even during weekend as even the Central Bank worked at the weekend.
“When we came up with the policy,we directed the banks to work on Saturdays and from here, we are going to go round to see whether the banks are complying. Any bank found not complying, we are going to call the MD and find out why they are not doing that,” he said
On those in the rural areas who may not have bank accounts,he said “part of our mandate for this sensitization,yesterday we were at the Palace of the Emir of Zazzau and we appealed to them as well to reach out to the rural areas. It is our concern actually. So that is exactly why we are out because we know that alot of people at the rural area,some of them are not even aware of this thing. So we are trying to intensify this sensitization so that we bring them along.”
He said even though the rural people may not have bank accounts, other channels were provided through which they could change their old currencies.
Speaking earlier , Chairman of the Kaduna Central Market Traders Association,Alhaji Abdurahman Mohammed said the CBN had done its best in sensitization on the new Naira redesign and urged his members to deposit their old notes at the banks before the January 31st deadline.
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