Economy

New Notes Deadline: CBN Turns to POS Agents

The Central Bank of Nigeria CBN, says plans have been concluded to engage services of major POS operators across the country to commence issuance of the new naira notes as the deadline for deposit of the old currency approaches.

The move follows complaints by Nigerians of inadequate supply of the redesigned naira notes in banks and in circulation

Governor of the Central Bank, Godwin Emefiele announced this at the end of a three-day sensitisation campaign in Lafia the Nasarawa capital.

Represented by the Director Security Services, Atiku Mohammad, the CBN governor said the measure was aimed at making accessible deposit points for the old notes and receiving the new ones immediately and reaching out to the rural populace that is yet to open an account.

Mr Emefiele, explained that there was no going back on the January 31 deadline for the deposit of the old naira notes despite calls for extension, and emphasized that the CBN had distributed enough new notes to banks to issue to customers.

He reminded market women and men who are yet to open an account to do so without delay as the world was becoming Internet-driven and cash money would sooner or later be regarded as old fashion.

CBN Controller, Lafia Branch, Shehu Yakubu, advised those without a bank account to open one for easy business transactions.

Most of the marketers that spoke at the event appealed for an extension of the deadline for the deposit of the old naira notes to enable those in rural areas to do so.

Yusuf Usman (FRCN Abuja)

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