Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has assured Nigerians that banks will continue to receive old naira notes after deadline.
Gatekeepers News reports that no Nigerian will lose money under the Naira redesign project, stressing that the project is in the overall interest of Nigerians and the economy.
Emefiele gave the assurance during a meeting with the ad-hoc committee on the review of the Bank’s cashless policy and extension of the timeframe of the currency swap programme of the Bank on Tuesday.
The Apex Bank Governor started that subject to Section 20(3) of the CBN Act, citizens would be allowed to redeem the face value of the Naira in their possession after the currency has lost its legal tender status on February 10, 2023, deadline only at the CBN.
Emefiele while sorting the cooperation of the National Assembly to ensure the success of the programme, stressed that “Nigerians will not lose their money.”
While reeling out the steps taken by the Bank to ensure the effective distribution of the new banknotes, the CBN revealed that about N1.9 trillion had so far been collected since the commencement of the exercise.
He noted that the currency redesign policy had so far recorded about a 75 per cent success rate given the fact that many of those in the rural and underserved locations across the 36 states in Nigeria have had the opportunity of swapping their old banknotes for the new series of the banknotes.
Emefiele, accompanied to the meeting by all the four deputy governors at the Bank, disclosed that the Bank had deployed about 30,000 super agents to work with the Bank’s staff currently in the hinterland to ensure that the underserved and vulnerable members of the society are adequately catered for.
He further disclosed that the apex bank was working closely with relevant agencies of the Federal Government to ensure full compliance with the CBN guidelines issued to the deposit money bank for the seamless distribution of the new banknotes.
Earlier, the Chairman of the Special Ad-hoc committee, Ado Doguwa, expressed the support of the House of Representatives for the cashless policy of the Bank, adding that the House would assist the CBN in achieving its mandate in that regard.
Dogowa welcomed the submission of the CBN Governor and stressed the need for more collaboration.
